Taiwo Oyedele Outlines How Radical Macroeconomic Shifts and Tax Consolidation Rescued the Nigerian Economy for 2026

Taiwo Oyedele, the architect of Nigeria’s recent fiscal overhaul, has declared that the “tough pills” administered through macroeconomic reforms over the last two years have finally broken the back of the nation’s economic stagnation.

Speaking at a high-level economic summit, the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms explained that the current stability seen in the markets is the direct result of a deliberate “re-engineering” of the nation’s financial DNA.

According to Oyedele, the turnaround was anchored on three critical pillars: transparency, simplification, and equity. He noted that by consolidating the tax system, the government removed the “invisible taxes” that had long stifled Small and Medium Enterprises (SMEs). “We didn’t just change laws; we changed the philosophy of taxation in Nigeria,” Oyedele said. “We moved from taxing poverty to taxing prosperity.”

One of the most significant shifts highlighted was the Exchange Rate Unification. Oyedele argued that by allowing the Naira to find its true value, the government eliminated the arbitrage that had enriched a few at the expense of the many. This move, combined with the 2025 Tax Reform Acts, has led to a projected 4.2% GDP growth for 2026 the highest in nearly a decade.

The tax expert also addressed the recent “TIN” controversy, defending the mandatory integration of Tax Identification Numbers for services like the NELFUND student loans. He described it as a “social contract” where every citizen contributes according to their means to ensure the sustainability of public services.

“The turnaround we see today is not an accident. It is the result of stopping the leakage of subsidies and redirected those trillions into the ₦1.8tn Rivers budget, the ₦1.75tr NDDC projects, and the ₦2.1tr national education fund. We are finally spending on the people rather than on waste.” — Taiwo Oyedele

As the 2026 fiscal year progresses, Oyedele warned that the government must remain disciplined. He emphasized that the “harvest season” for these reforms is just beginning and that the focus must now shift to maintaining the low inflation rate and ensuring that the increased revenue is visible in the form of better roads, stable electricity, and improved security.