- Calls for Expedited Legislative Action to Modernize Tax Laws
- Urges Unity and Constructive Dialogue for National Development
News Report:
President Bola Tinubu has applauded the Nigeria Governors’ Forum (NGF) for their unanimous support of the four Tax Reform Bills currently under review by the National Assembly. He described the governors’ collective endorsement as a bold step toward advancing Nigeria’s economic development and fostering unity across the nation.
In a statement released by his Special Adviser on Information and Strategy, Bayo Onanuga, the President commended the NGF for transcending regional, ethnic, and political divides to prioritize the country’s growth. He particularly lauded Kwara State Governor and NGF Chairman, Abdulrahman AbdulRazaq, for rallying his peers to support the transformative tax reform agenda.
“The governors have shown exemplary leadership by endorsing reforms that will rejuvenate the national economy and enhance the country’s investment climate,” President Tinubu stated.
The President also acknowledged the contributions of the Progressive Governors Forum, the Northern Governors Forum, and other groups that helped achieve a bipartisan resolution to controversies surrounding the tax bills. He emphasized that the reforms are designed with a pro-poor focus, aimed at improving Nigeria’s economic competitiveness and attracting both local and foreign investments.
Highlighting the outdated nature of Nigeria’s tax laws, President Tinubu stressed the importance of modernization to align with global economic realities. He described the dialogue between the NGF and the Presidential Committee on Tax and Fiscal Policy Reform as a testament to the power of constructive engagement in resolving policy differences.
President Tinubu reaffirmed his commitment to working closely with state governors to promote economic growth, national harmony, and stability. He also encouraged other stakeholders with ideas for refining the tax bills to actively participate in the legislative process.
Finally, the President urged the National Assembly to expedite the passage of the Tax Reform Bills to enable Nigerians to quickly benefit from the economic advantages they promise.
The proposed reforms are expected to address long-standing issues in Nigeria’s tax system, improve revenue generation, and lay the groundwork for sustainable development.
