By Gbenga Dada
A tax consultant, Mr Adeyemi Moshood, has said that the appointment of Mr Taiwo Oyedele as Minister of State for Finance is set to consolidate the implementation of the new tax law and strengthen the administration’s fiscal reform agenda.
Moshood made the remarks in an interview with the News Agency of Nigeria (NAN) on Wednesday in Lagos.
He described Oyedele as a seasoned professional with extensive experience in tax management and fiscal policy, commending President Bola Tinubu for the nomination.
“The new tax law is a welcome development,” Moshood said, “as tax compliance is not only a civic obligation but a major source of revenue for developed countries. Strengthening Nigeria’s tax system is key to sustainable economic growth.”
According to the consultant, the law will increase tax contributions from high-income earners, while also bringing emerging sectors, including content creators, into the tax net. He added that low-income earners and small businesses, particularly those with annual turnover below N50 million, will benefit from proposed exemptions.
He further noted that the appointment is likely to strengthen international cooperation with global financial institutions and investors, boosting confidence in Nigeria’s tax reforms and attracting foreign investment.
Moshood, a chartered accountant and member of the Chartered Institute of Taxation of Nigeria, has over a decade of experience in tax management and accounting practice.
