Nigeria’s President Bola Tinubu has reaffirmed his commitment to the country’s tax reforms bills, stating that there’s no going back on the legislation. The tax reforms aim to eliminate colonial-based assumptions in the nation’s tax environment and have been met with controversy, particularly from northern states governors.
During a media chat in Lagos, Tinubu emphasized that the reforms are pro-poor, intending to widen the tax net and increase revenue. He noted that the vulnerable will not be required to pay taxes. The President also addressed concerns about economic hardship following the subsidy removal, stating that it was necessary to save future generations and prevent the country from spending its future.
Tinubu’s administration has faced criticism from northern governors, who argue that the reforms will disadvantage their region. Borno State Governor, Babagana Zulum, expressed concerns about the rushed passage of the bills, stating that it should be treated carefully to ensure benefits for future generations.
The President also discussed his plans to reduce inflation, boost local production, and improve security. He emphasized the importance of increasing agricultural production rather than implementing price controls to address high food prices.
Additionally, Tinubu addressed recent stampedes during palliative distributions, blaming organizers for lack of discipline and organization. He emphasized the need for more discipline in society and encouraged responsible giving practices.
On fighting corruption, Tinubu highlighted his administration’s efforts, including the removal of subsidies, increasing access to legitimate income, and plugging loopholes for corruption. He also mentioned the Student Loan program as a means to prevent corruption in education funding.
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