Tax consultant Adebisi Oderinde, CEO of AOC-Adebisi Oderinde & Co, has urged Nigerian President Bola Tinubu to reconsider implementing a new tax reform, warning it could hinder small and medium-sized businesses. During the inauguration of his company’s head office in Ogun State, Oderinde advised the government to focus on economic stability before advancing tax reforms, emphasizing that many states would be adversely affected, not just the businesses themselves.
Oderinde, who has over 28 years of experience in tax consultancy, expressed concerns that the proposed reform could ultimately harm Lagos State, despite perceptions that it would benefit the state. He highlighted that changes to consumption tax and adjustments to the Pay-As-You-Earn (PAYE) tax would reduce revenues for states, particularly affecting Lagos, which relies heavily on consumption tax. He urged caution, arguing that the current economic challenges make it an inopportune time for reforms that could dampen purchasing power and financial recovery.
Prominent dignitaries, including traditional rulers, government officials, and religious leaders, attended the event and commended Oderinde for his dedication to professional integrity. The company’s new logo, symbolizing the stages of challenges and achievements, reflects Oderinde’s journey and commitment to serving Nigeria’s tax sector. The event underscored the impact of the proposed reforms, with calls for a strategic approach that prioritizes economic resilience.
