The Nation Newspaper Understanding the Tinubu tax reforms by Dapo Okubanjo
This has for some time led to hues and cries over some of the reforms introduced by the administration, chief among which are the fuel subsidy removal and the unification of multiple exchange rates.
There is however history to these untrue claims and this has to do with, how as governor of Lagos state between 1999 and 2007, Asiwaju Bola Tinubu caused a quantum leap in the state’s Internal Generated Revenue . Subsequent administrations in the state have since been building on that template and today, Lagos has an IGR that can easily compete and is indeed competing favourably with that of many African countries
Now to understand the sort of tax regime the President has in mind, it would be necessary to follow the trend of the work being done by the Presidential Committee on Fiscal Policy and Tax Reforms led by a renowned Tax expert, Taiwo Oyedele since it was constituted in 2023 with a one-year timeline to conclude its task.
It is a huge task considering that the Tinubu administration is eyeing a tax-to-GDP ratio of 18% by 2026 up from the current abysmal level of 10.86%
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