President Bola Tinubu has made a compelling appeal to the media to support his administration's ambitious tax reform initiatives, which he describes as essential for fostering enduring national wealth and prosperity for all Nigerians.
This call was made during the 2024 Nigerian Media Merit Awards held at the Muson Centre in Lagos.
Represented by the Minister of Information and National Orientation, Mohammed Idris, President Tinubu emphasized the critical need for a comprehensive overhaul of Nigeria's current tax administration system.
"While opinions may differ on the details of the proposed tax reforms, there is a national consensus on the need for a complete overhaul," Idris conveyed on behalf of the President.
The proposed reforms aim to streamline the number of taxes, alleviate the burden on vulnerable Nigerians, increase the share of taxes allocated to states, and stimulate business growth through targeted incentives.
These changes are part of the broader Renewed Hope Agenda, which also includes subsidy removal, unification of multiple exchange rates, and tax restructuring.
President Tinubu expressed optimism about the ongoing dialogue surrounding these reforms, noting that it would lead to many areas of convergence among stakeholders. "I will say with every sense of conviction that our policies are deliberate and well-thought-out," he stated. "We are headed toward the restoration of Nigeria, on a path requiring a comprehensive approach that addresses economic diversification, human capital development, infrastructure development, wealth creation, and inclusive growth."
In addition to increasing monthly revenues and ensuring financial autonomy for local governments, the reforms are designed to redirect resources towards economic growth, infrastructure development, and human capital advancement.
President Tinubu urged the media to play a pivotal role in amplifying the narratives around these reforms, thereby enhancing public understanding and countering misinformation.
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