Oyedele disclosed this while delivering the convocation lecture at the University of Uyo, Akwa Ibom State, where he called for increased investment in Nigeria's digital infrastructure to strengthen economic competitiveness and improve government revenue mobilisation.
Oyedele made the observation on Saturday in Abuja at the fourth edition of the Nigeria Sovereign Investment Authority Prize for Innovation, where seven startups received awards valued at a combined $277,000.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, says Nigeria could have faced inflation of up to 1,000 percent without the economic reforms introduced by President Bola Tinubu’s administration.
The government said the discount was a commercial decision by NNPC Retail Limited to reduce its retail profit margin and pass the savings to consumers, rather than an arrangement requiring taxpayers’ money to keep petrol prices artificially low.
Finance Minister and Coordinating Minister of the Economy, Taiwo Oyedele, outlined the plan on Thursday, October 8, at the World Bank’s Nigeria Development Update launch in Abuja.
Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed this on Thursday, while addressing a press conference in Abuja on the rising cost of petrol and renewed questions over the fuel subsidy regime.
The measure is contained in the Nigeria Tax Administration (Interest on Late Payment of Tax) Order, 2026, issued by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, under Section 65 of the Nigeria Tax Administration Act, 2025.
The Federal Ministry of Finance, in a public notice on Friday, said the call was aimed at obtaining practical and evidence-based legislative and regulatory recommendations that would strengthen the country’s fiscal framework, improve the business and investment environment, and support sustainable economic growth.
President Bola Ahmed Tinubu has directed Finance Minister Taiwo Oyedele to present ‘The Reforms Scorecard’, detailing the economic impact of administration policies since 2023.
Official figures show fuel subsidy removal and currency unification generated ₦15.8 trillion in additional...
An Akwa Ibom State High Court sitting in Uyo has dismissed a petition seeking the dissolution of a marriage that has lasted over 43 years, ruling that lack of love and mutual respect between spouses does not, on its own, constitute sufficient legal grounds for divorce.
