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FG: Nigeria’s N152tn Debt Rise Due to Transparency, FX Reforms — Not Fresh Borrowing

The Federal Government has said Nigeria’s N152 trillion public debt reflects improved fiscal transparency and foreign exchange revaluation, rather than a sharp increase in...
HomeNewsI receive death threats over tax reforms, says Taiwo Oyedele

I receive death threats over tax reforms, says Taiwo Oyedele

The chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has disclosed that he has received threats to his life over his role in implementing Nigeria’s far-reaching tax reforms.

Oyedele made the revelation on Tuesday in Abuja at a governance colloquium organised to mark the 50th birthday of the special adviser to the president on policy and coordination, Hajiya Hadiza Bala-Usman.

Speaking at the event, Oyedele said pushing reforms that challenge entrenched interests requires exceptional courage, particularly in a system that has long resisted change, Vanguard reports.

“Reforms are hard, and tax reforms are even harder. You need courage. I receive threats simply for trying to fix a broken system,” he said.

He identified deep-seated mistrust of government, weak tax compliance culture and poor public understanding of fiscal exchange as some of the major obstacles confronting the reform process.

According to him, Nigeria’s tax revenue remains significantly lower than that of comparable countries, making comprehensive reforms unavoidable.

Oyedele urged Nigerians who support the reforms to speak out, warning that silence allows opponents to dominate public discourse.

Describing trust as the most critical challenge, he said many Nigerians have misunderstood the reforms, wrongly believing that new taxes are being introduced rather than existing levies being reduced and harmonised.

“There is suddenly a national awareness, and people say the government has brought taxes all over the place, when in fact what we are doing is reducing the taxes they have been paying and harmonising them,” he said.

He added that implementing the reforms carries serious political, economic and reputational risks.

“You need the courage to push through. You need the courage to take risks, because it’s very risky,” Oyedele said.

Despite facing online abuse and personal threats, he defended the reform strategy, describing previous approaches as temporary fixes.

“What we have been doing all my adult life with the tax system was a pain reliever. It hasn’t taken us far. Now we’re doing the surgery. It will come with pain, but it is the only right thing to do,” he said.

Oyedele expressed optimism about the country’s direction, describing the current reform drive as unprecedented and urging Nigerians to remain committed to achieving long-term fiscal stability.

The federal government began enforcing the new tax regime on January 1, 2026, following the introduction of four major laws: the Nigeria Tax Act 2025, the Nigeria Tax Administration Act 2025, the Nigeria Revenue Service Establishment Act 2025 and the Joint Revenue Board Establishment Act 2025.