Mr. Ajibola Olomola is the Vice-Chairman of the Nigeria-South Africa Chamber of Commerce. He is also a Partner and Head of the Technology, Media, and Telecommunications (TMT) Line of Business of KPMG in Nigeria. He also serves as General Counsel for KPMG in Nigeria.
He has over 30 years of experience advising large corporates and institutional investors in relation to their business structures and operations in Nigeria.
In addition to his role as Sector Head for TMT in Nigeria, Ajibola specializes in Transaction Advisory Services in the Mergers & Acquisitions Team for KPMG.
Ajibola has served as the lead regulatory partner on KPMG’s engagement with African Export Import Bank (AFREXIM) for the design of a regulatory framework for the Pan-African Payments and Settlement System pursuant to the Trade in Services Protocol of the African Continental Free Trade Area Agreement (AfCFTA). He also supported AFREXIM in setting up its novel venture capital/private equity fund – FUNDFED to fast-track investments in high-growth enterprises across the continent.
Ajibola has worked with parastatals such as the Nigerian Investment Promotion Commission and the Federal Ministry of Industry, Trade and Investment to design a competitive regulatory framework for trade and investment in Nigeria. In 2016, he was selected as the specialist to support the work of the Nigeria Industrial Policy and Competitiveness Advisory Council established by the President of the Federal Republic of Nigeria with reference to the workstream on Trade & Customs. This work produced several outcomes including the issuance of Presidential Executive Order 007 of 2019, establishing the Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme together with its operational guidelines.
In 2019, Ajibola was appointed by the Honorable Minister for Finance into the National Tax Policy Implementation Committee (NTPIC) with a mandate to consider fiscal stimulus for the national and subnational economy. This Committee’s work led to the eventual promulgation of the Finance Act 2019, which was signed into law by the President in January of 2020. The Finance Act contained provisions to enable Nigeria to begin to track and harmonise frameworks for harnessing revenue from the global digital economy.
In 2020, he was further appointed by the Honorable Minister of Finance, Budget and National Planning into the Fiscal Policy Reforms Committee (FRPC), whose mandate includes consideration of appropriate counter-cyclical fiscal policies to be reflected in the Finance Act of 2020 as well as the coordination of monetary, trade and fiscal policies vis-à-vis trade-offs; the deepening of ease of doing business and public procurement reforms of the Government.
Function and Specialisation
Licenses & Certifications
- Member, Nigerian Bar Association (NBA) & the International Bar Association (IBA)
- Associate, Institute of Chartered Accountants of Nigeria (ICAN)
- Fellow, Association of Chartered Certified Accountants (ACCA) UK
- Fellow, Chartered Institute of Taxation of Nigeria (CITN)
- Fellow, Center for International Legal Studies, Austria
- Executive Program, Harvard Business School, Boston, USA
- Member, Chartered Institute of Arbitrators (UK)