JUST IN: Nigerian government introduces ‘five big fiscal reforms’ to woo investors, engender growth

Home News Headline Stories Top News More News Foreign Gender Investigations All Alabuga ReportsBlood on Uniforms PREMIUM TIMES investigates TotalEnergies’ ‘zero routine flaring’ claim 2027: Fintiri’s exit, Atiku, Ribadu’s interests set stage for tight Adamawa governorship race INVESTIGATION: How Anthony Kila falsified all his academic qualifications – from Bachelor’s to Doctorate INVESTIGATION: The fake professor leading a Nigerian university INVESTIGATION: NUPRC fails to enforce Nigeria’s anti-flaring law as methane emissions go unchecked (2) Minna’s Cell of Death: Survivors recount how 37 mining suspects died in NSCDC custody Mambilla: How PREMIUM TIMES investigation helped Nigeria defeat Leno Adesanya at Paris Tribunal SPECIAL REPORT: In Kaduna, community peacebuilding offers way to stop disputes from becoming violent SPECIAL REPORT: Inside Nigeria’s methane problem Business News Reports Financial Inclusion Analysis and Data Business Specials Trade Insights Opinion Oil/Gas Reports FAAC Reports Revenue Opinion All AnalysisColumnsContributorsEditorial Afrilition: Mental models, By Adéwálé Àjàdí Tinubu can’t handle insecurity: Why does he want another term?, By Ugoji Egbujo The weaponisation of yesterday, By Umar Yakubu The secrets hiding in our environment, By ‘Tope Fasua Detribalised does not mean what most Nigerians think it means, By Temitope Lakisokun TMG vs TMS: The communication dilemma over Tinubu’s future, By Yushau A. Shuaib Health News Reports Special Reports and Investigations Health Specials Features and Interviews Multimedia Primary Health Tracker Agriculture News Report Special Reports/Investigations Features Interviews Multimedia Arts/Life Arts/Books Kannywood Lifestyle Music Nollywood Travel Sports Football More Sports News Sports Features Casino iGaming Non AAMS Online Kaszinó Magyar Online Casino Österreich non Gamstop casinos Kasyna online Casino Uden Rofus Τα Καλύτερα Online Casino Casino Sin Licencia España Casino Utan Svensk Licens Beste online casinos Top cazinouri online Gokken Beste Online Casino Nederland Games كازينو اون لاين Geriausi kazino internetu Онлайн казино Казахстан Elections 2024 Ondo Governorship Election 2024 Edo Governorship Election Presidential Gubernatorial Home News Headline Stories Top News More News Foreign Gender Investigations All Alabuga ReportsBlood on Uniforms PREMIUM TIMES investigates TotalEnergies’ ‘zero routine flaring’ claim 2027: Fintiri’s exit, Atiku, Ribadu’s interests set stage for tight Adamawa governorship race INVESTIGATION: How Anthony Kila falsified all his academic qualifications – from Bachelor’s to Doctorate INVESTIGATION: The fake professor leading a Nigerian university INVESTIGATION: NUPRC fails to enforce Nigeria’s anti-flaring law as methane emissions go unchecked (2) Minna’s Cell of Death: Survivors recount how 37 mining suspects died in NSCDC custody Mambilla: How PREMIUM TIMES investigation helped Nigeria defeat Leno Adesanya at Paris Tribunal SPECIAL REPORT: In Kaduna, community peacebuilding offers way to stop disputes from becoming violent SPECIAL REPORT: Inside Nigeria’s methane problem Business News Reports Financial Inclusion Analysis and Data Business Specials Trade Insights Opinion Oil/Gas Reports FAAC Reports Revenue Opinion All AnalysisColumnsContributorsEditorial Afrilition: Mental models, By Adéwálé Àjàdí Tinubu can’t handle insecurity: Why does he want another term?, By Ugoji Egbujo The weaponisation of yesterday, By Umar Yakubu The secrets hiding in our environment, By ‘Tope Fasua Detribalised does not mean what most Nigerians think it means, By Temitope Lakisokun TMG vs TMS: The communication dilemma over Tinubu’s future, By Yushau A. Shuaib Health News Reports Special Reports and Investigations Health Specials Features and Interviews Multimedia Primary Health Tracker Agriculture News Report Special Reports/Investigations Features Interviews Multimedia Arts/Life Arts/Books Kannywood Lifestyle Music Nollywood Travel Sports Football More Sports News Sports Features Casino iGaming Non AAMS Online Kaszinó Magyar Online Casino Österreich non Gamstop casinos Kasyna online Casino Uden Rofus Τα Καλύτερα Online Casino Casino Sin Licencia España Casino Utan Svensk Licens Beste online casinos Top cazinouri online Gokken Beste Online Casino Nederland Games كازينو اون لاين Geriausi kazino internetu Онлайн казино Казахстан Elections 2024 Ondo Governorship Election 2024 Edo Governorship Election Presidential Gubernatorial A Presentation to the fiscal reforms

Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, on Wednesday unveiled five fiscal reforms he said the Nigerian government will introduce to create a conducive business environment, engender growth and boost investments.

The minister spoke at the Nigerian Investors’ Forum held on the sidelines of the World Bank/IMF annual meetings in Bangkok, Thailand.

The forum, attended by corporate investors, bankers, government officials and others, was put together to showcase Nigeria’s bankable opportunities and strategic investor conversations in Bangkok.

Speaking at the event, Mr Oyedele said Nigeria plans to introduce “five big reforms” in the fiscal space as part of its efforts to attract the right investment and engender development. He listed the key reform areas to include agriculture and food security, power, regulation, inflation and data management.

“I’ll give you some of the five big issues, big reforms, to expect from the government,” the minister said at the forum.

“One of it is agric reform. One of the drivers of inflation is food. So we are trying to now piece this together to find where these problems are coming from. One thing that we’ve seen recently is that when analysts go on TV, economists talk about why there is inflation; they will talk about bad roads, they will tell you insecurity, and I say yes to some extent.

“If roads are bad, they shouldn’t create inflation unless the roads are worse this year than they were last year. So, the data we have shows that roads are better generally than previously.”

“So, we know where the inflation and the pressure for it is coming from. We’re going to tackle it there, not only just to bring it down to a single digit, but to leave it there.”

Mr Oyedele said the second significant reform to expect is power.

“You cannot power a one trillion-dollar economy in darkness,” the minister said.

“It’s impossible. So we’re looking at strategies to address the issues; whether it’s market-reflective pricing, dealing with issues around transmission, how do you drive efficiency, which is not there currently.”

The minister said inflation management remains another major reform target.

“So there is a dedicated focus on what we want to do, particularly from the fiscal side, to rein in inflation. And we’re working with sub-nationals. So everybody has their role.

“And this is not just to say something that’s nice, it’s a plan with assigned roles and responsibilities with timelines. So, my role is just to coordinate all of that together.”

Another pain point identified by the government, the minister said, was in the area of regulations.

He said: “We estimate that over-regulation, regulatory burden, lack of clarity, a number of those excessive burdens that we impose on businesses actually are costing us more than the combined revenue from corporate tax, personal income tax, and VAT combined.

“And you can ask me, what is the best example of a win-win outcome? Where the government wins, private sector wins even more. So we have started by developing a framework for economic policy for Nigeria.”

The minister explained further that data management remains key.

“People say, and we agree with them, that it’s difficult to find data about Nigeria, especially from the fiscal side. Something as important as our tax-to-GDP ratio, you can’t find it easily. The World Bank in their NDU quoted an amount of tax-to-GDP ratio that is much lower than it is actually.

“If you go to the IMF today, their numbers are different. Within government, depending on who is saying it and when they are saying it, they quote different numbers. Now, we said, ‘not anymore’.

“So we are currently finalising all of that and it will be available on the website of the Ministry of Finance, finance.gov.ng. It will be updated timely, it will be accessible, it will be credible. We are playing now on visibility and elevating credibility.”

Oladeinde Olawoyin reports Business & Economy, Development and Lagos Metro at PREMIUM TIMES. A First Class graduate of Mass Communication from the University of Ilorin, Ilorin, he was nominated in the journalism category of The Future Awards Africa in 2017. Aside maintaining a column titled ‘SATURDAY SATIRE’, he also writes art and culture pieces on weekends. Twitter: @Ola_deinde

More News Ondo govt orders river fumigation, emergency water supply in Igbokoda over military aircraft crash October 14, 2026 IMF warns against blanket petrol subsidies, suggests targeted support for poor, vulnerable people October 14, 2026 What African countries, others can learn from Nigeria’s economic reforms – Minister October 14, 2026 SPECIAL REPORT: Insecurity exposes Zamfara communities to recurring cholera outbreaks October 14, 2026 Shell to sell Nigeria’s domestic gas business to Vaaris Energy October 14, 2026 Akpabio insists on jail term for attempted suicide as Senate passes decriminalisation bill for second reading October 13, 2026 Leave Comment

Please enter your username or email address to reset your password.