President Bola Ahmed Tinubu has reaffirmed his administration’s commitment to tax reforms, stating that these measures are essential for the nation’s economic stability and long-term growth. Responding to concerns raised by northern governors and other Nigerians, Tinubu emphasized that the reforms are designed to ensure equitable revenue generation and reduce reliance on oil. He noted that while reforms may initially seem burdensome, they are necessary for sustainable development.
In a statement released from the Presidential Villa, Tinubu acknowledged the grievances of citizens and regional leaders but urged patience. “Our current tax regime is outdated and inadequate to meet the financial demands of modern governance,” he said. “The reforms we are implementing are not punitive; they are meant to create a fairer system that benefits every Nigerian.” He stressed that the government is focused on minimizing the tax burden on low-income earners while ensuring that wealthy individuals and corporations contribute their fair share.
Northern governors, during a recent meeting, had expressed concerns over the potential adverse effects of the reforms on agriculture and small businesses, particularly in rural communities. However, Tinubu assured them that the reforms would include targeted support for these sectors. “We are not blind to the challenges our people face,” he said. “This administration is committed to implementing complementary policies that will mitigate any negative impact of the reforms on vulnerable groups.”
The president also called on Nigerians to see the broader picture, highlighting that an improved tax system will lead to better infrastructure, healthcare, and education. “Reforms are never easy,” Tinubu remarked, “but they are necessary for us to break free from economic stagnation and chart a course toward prosperity.” He urged state governments to collaborate with the federal government in ensuring the smooth implementation
