The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, emphasized the significance of President Bola Tinubu’s famous “let the poor breathe” statement during an interview on Channels Television’s Sunrise Daily. Oyedele, appointed by Tinubu to lead the committee in August, reiterated the President’s message, underscoring that it holds more importance than many realize.Thank you for reading this post, don't forget to subscribe!
He explained, “I think that statement, ‘Let the poor breathe’—sometimes people don’t appreciate how important it is. Unfortunately, sometimes, people say it like it is a joke or just a cliche, but the reality is that things are tough.”
Oyedele further pointed out that the removal of fuel subsidies and exchange rate adjustments impact the poorest individuals the hardest, affecting their access to necessities like food, healthcare, and education.
He emphasized that while the middle class and the elite might adjust their spending when times are tough, the poorest citizens often have to make drastic sacrifices, such as reducing meals or withdrawing their children from school. Oyedele also highlighted the ripple effects on various professions and businesses, like vulcanizers and mechanics, whose customers are impacted by these economic changes.
In response to concerns about tax policies, Oyedele assured that no higher tax rates would be imposed under Tinubu’s administration. The committee’s objective is to reduce the number of taxes levied on Nigerians.