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Nigeria’s Vice President, Kashim Shettima, has emphasized that the tax reforms introduced by the administration of President Bola Ahmed Tinubu are designed to improve the system for the overall benefit of all Nigerians.
Contrary to speculations, the government is not aiming to impose burdens on any sector but to create an efficient and fair tax system that benefits the entire nation.
Speaking at the close-out retreat of the Presidential Fiscal Policy and Tax Reforms Committee in Abuja, Shettima, represented by the special adviser to the president on general duties (office of the vice president), Dr Aliyu Moddibo Umar, highlighted the significance of the reforms in revitalizing revenue generation while maintaining an investment-friendly and globally competitive business environment.
The vice president expressed confidence in the committee’s ability to deliver on its mandate, acknowledging the importance of transitioning from proposal to implementation.
He assured that both federal and state governments are prepared to ensure the effective implementation of the committee’s reform proposals, aligning them with the economic agenda of the Tinubu administration.
In light of the dynamic fiscal landscape of Nigeria, the government has reconsidered the direction of its fiscal policies to ensure that the tax system is beneficial for all citizens.
The reforms are aimed at boosting revenue generation and promoting a conducive environment for businesses, fostering economic growth and development.
The Presidential Fiscal Policy and Tax Reforms Committee was established to address the challenges in Nigeria’s fiscal landscape and develop a roadmap for reforms that would enhance the country’s tax system and revenue generation capacity.
The committee’s recommendations are expected to be implemented across federal government ministries, departments, and agencies, with a focus on ensuring effective coordination and synergy among all stakeholders.
As Nigeria embarks on this critical journey of fiscal reform, the government’s commitment to a fair and efficient tax system will be crucial in fostering economic growth, reducing inequality, and promoting a business environment that attracts both domestic and foreign investment.
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