President Bola Tinubu has reaffirmed his commitment to implementing comprehensive tax reforms in Nigeria, stating that these reforms are essential for the country’s economic transformation.
The President emphasized that the tax reforms aim to modernize the tax system, broaden the revenue base, and support the nation’s development goals. He noted that the reforms are designed to be pro-poor and inclusive, targeting the expansion of the tax net rather than burdening low-income earners.
Tinubu highlighted the importance of eliminating outdated colonial-era taxes, describing them as ineffective for Nigeria’s current economic realities. He also underscored the need to address tax evasion, stating that it is essential to satisfy the larger community of taxpayers. The President asserted that his administration is focused on making tough but necessary decisions to stabilize the economy.
During his maiden presidential media chat, Tinubu defended his cabinet’s performance amid calls for reshuffling, asserting that his ministers add value and effectively manage their assignments. He reiterated that job assignments in his administration are carefully structured to ensure efficiency and impact. Tinubu expressed confidence in the direction of his administration, urging Nigerians to embrace the changes necessary for long-term prosperity.
The president’s four Executive Bills on Tax Reforms were sent to the National Assembly and have faced criticism. However, Tinubu remains resolute in his pursuit of economic transformation, stating that “tax reforms are here to stay” and that Nigeria cannot continue to rely on outdated systems.
