**Tinubu Commends Oyedele's Tax Reforms as He Takes Office as Minister** In a special ceremony in Abuja, President Bola Tinubu officially inaugurated Taiwo Oyedele as the new Minister of State for Finance. The President took the opportunity to acknowledge Oyedele's impressive achievements in overhauling Nigeria's tax system as the chair of the Presidential Committee on Fiscal Policy and Tax Reforms. Tinubu praised Oyedele for his crucial role in rewriting Nigeria's tax policy and spearheading the country's transition from an outdated and opaque tax structure. He noted that Oyedele's contributions are invaluable in helping the country achieve economic stability and growth. As you might recall, Nigeria's tax-to-GDP ratio was a mere 13.5 per cent last June. However, the new tax law implemented by Oyedele's committee has the potential to increase this ratio to 18-20 per cent, which is a significant step towards achieving the country's target of a $1 trillion GDP by 2030. One of the major challenges in Nigeria's past tax system was the existence of over 60 taxes and levies, which created a complex and cumbersome process for businesses and investors. The new tax law has reduced this number to below 10, making it easier for the government to collect revenue and for businesses to operate. In his remarks after the inauguration, Oyedele expressed gratitude to President Tinubu and the Nigerian people for their support. He emphasized the importance of diligent execution in implementing reforms and pledged to work tirelessly to move from policy formulation to execution. As Nigeria continues to navigate its economic challenges, Oyedele's appointment as Minister of State for Finance brings a wealth of experience and expertise to the table. With Tinubu's endorsement and Oyedele's commitment to reform, the country is likely to see significant improvements in its tax system and economic growth in the coming years.