Adeosun explained that tax compliance had historically been weak, particularly among wealthy individuals and large corporations.
She referenced initiatives such as the Voluntary Assets and Income Declaration Scheme (VAIDS), which targeted tax evasion.
“When you’re minister of finance, the word ‘no’ becomes your watchword. If your finance minister is loved by everybody, they’re probably not doing much of a job,” she said.
Adeosun also praised the Tinubu administration for pushing data harmonisation across government agencies, describing it as critical to improving tax collection and governance.
“I was excited when I saw moves to harmonise data. We’ve had TIN, NIN, BVN—too many numbers. Once you harmonise data, it becomes very difficult to hide,” she said.
The former minister further stated that access to integrated data allowed the government to identify individuals and companies benefiting from public resources without paying taxes, adding that “once you have data, and with AI, you can see very quickly who is not playing the game fairly”.
On insecurity, Adeosun said the current administration was demonstrating the political will to confront the challenge, though the challenge remained complex and longstanding.
She also recounted a personal experience during her time in office when her home was invaded, and she was robbed at knifepoint.
“It was extremely scary. I never slept in that house again,” the minister said.
“Insecurity didn’t start overnight, and it won’t end overnight. But what matters is that there is now a clear will to tackle it,” Adeosun added.
