President Bola Tinubu has defended his administration’s decision to remove Nigeria’s petrol subsidy, arguing that reversing the policy would demonstrate a lack of understanding of the country’s economic and governance challenges. Tinubu made the comment on Thursday at the Presidential Villa in Abuja while receiving Osun State Governor Ademola Adeleke, […]
President Bola Ahmed Tinubu has signaled a major shift in Nigeria’s economic management by nominating Taiwo Oyedele as the new Minister of State for Finance. The move, announced Tuesday by presidential spokesman Bayo Onanuga, sees the renowned tax reformer transition from an advisory role to a core executive position within […]
President Bola Tinubu has rolled out a sweeping three-part policy action: approving ₦4 billion each for 12 universities to upgrade engineering and technology facilities, ordering immediate funding for Nigeria’s space assets, and nominating Taiwo Oyedele as Minister of State for Finance. Under the TETFund High-Impact Intervention, institutions such as Federal […]
The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has debunked widespread claims that a five percent fuel surcharge will begin on January 1, 2026. Speaking on Channels Television’s The Morning Brief, Oyedele clarified that the surcharge cannot take effect until an official commencement order […]
Background: Withholding tax was introduced in Nigeria in 1977 to serve as an advance payment of income tax on specified transactions. It aimed to provide the government with a steady revenue flow and curb tax evasion. Challenges: Over the years, the withholding tax regime expanded, leading to several issues, especially […]
