Nigeria Seeks Policy Coherence to Lower Costs, Attract Investment
The Tinubu administration is moving to align monetary policy with tax and revenue administration as part of a broader push to lower business costs, improve access to capital and build a more predictable investment climate, Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, has said.
Oyedele spoke at the 2026 Annual Conference of the Finance and Business Online Publishers Association (FiBOP) at Orchids Hotel, Lekki, Lagos, in a keynote address delivered on his behalf by his Special Assistant on Revenue, Dr. Olufemi Olarinde.
He said the initiative is designed to match applicable tax levels, interest and penalty rates with prevailing monetary conditions while keeping appropriate consequences for non-compliance. According to him, the goal is to promote sound public financial management, efficient spending and efforts to crowd in private investment.
Speaking on the conference theme, “Unlocking Nigeria’s Economic Potential: Taxation, Industry, Insurance and Trade and Investment as a Catalyst for a $1 Trillion Economy,” Oyedele said the reforms aim to “lower unnecessary costs, improve access to capital, and create an environment in which businesses can expand, employ more Nigerians, and contribute to the stability of public revenues.”
He stressed that tax reform is only one part of a wider economic strategy, arguing that Nigeria must expand local manufacturing, process more agricultural produce, develop mineral value chains and encourage investment in productive industries. Businesses, he added, need reliable power, efficient logistics, affordable finance and predictable regulation.
Oyedele also highlighted the roles of fintech, digitalisation, insurance and trade facilitation in reducing transaction costs, expanding financial inclusion, protecting productive assets and connecting Nigerian businesses to larger markets across Africa and beyond. He noted that the capital market has been growing year-on-year and cannot be ignored.
Calling on the media to partner with government in driving the reforms, he urged FiBOP and the wider media community to explain the role of reforms, communicate accurate economic data and promote informed debate while avoiding sensationalism. He said public confidence is strengthened when citizens understand not only what government is doing but why it matters and how progress will be measured.
“Our task is to maintain policy consistency, mobilise productive investment, improve infrastructure, expand access to finance, strengthen accountability, and measure results,” Oyedele concluded.
