President Bola Tinubu emphasizes the importance of tax reforms for achieving lasting national wealth and prosperity for all Nigerians.
President Bola Tinubu stated that his administration's reforms, particularly those concerning taxation, are crucial for achieving lasting national wealth and prosperity for all Nigeria ns. He emphasized that while opinions may diverge regarding the specifics of the proposed tax reforms , there is a widespread agreement on the necessity to thoroughly revamp the existing tax system.
Speaking at the 2024 Nigerian Media Merit Awards, President Tinubu, represented by Minister of Information and National Orientation Mohammed Idris, stressed that the government's policies are carefully considered and aimed at restoring Nigeria. This restoration involves a multi-faceted approach encompassing economic diversification, human capital development, infrastructure development, wealth creation, and inclusive growth. He highlighted the tax reform as a landmark initiative, a significant step towards ensuring enduring national wealth and prosperity. While acknowledging diverse viewpoints on the specifics of the reforms, Tinubu emphasized that there is a consensus on the need to overhaul the tax administration system in Nigeria. He explained that the tax bills currently before the National Assembly aim to simplify the tax structure, alleviate the burden on vulnerable citizens, and augment the share of taxes allocated to states. Additionally, he stated that the reforms will promote business growth through targeted incentives. Tinubu concluded by citing the recent record-high revenue distribution figure by the Federation Accounts Allocation Committee as a testament to the positive impact of the government's efforts
President Tinubu Tax Reforms Nigeria Economic Diversification Inclusive Growth
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