Tinubu Declares: Tax Reform Is Here to Stay

President Tinubu reaffirms his administration’s commitment to tax reforms, emphasizing their role in economic stability and national development.

President Bola Tinubu has affirmed that there will be no reversal on the recent contentious tax reform introduced by his administration.

During his first presidential media chat broadcast on Monday night, he emphasized that the economy cannot be revitalized with outdated methods while responding to questions.

“Tax reform is essential and permanent; continuing with outdated practices doesn’t work in today’s economy. We can’t revitalize this economy using old, ineffective strategies. I believe I have the ability to lead these changes, which is why I’m running,” Tinubu stated.

“My attention is on the needs of Nigeria and my responsibilities towards it. While it’s not a promise of utopia for everyone, I believe that a new dawn has arrived, and I’m confident you will too.”

On October 3rd, Tinubu submitted four tax reform bills to the National Assembly.

The proposed Tax Reform Bills have sparked significant controversy since being introduced at the National Assembly, facing strong resistance particularly from the northern region of the country.

Amidst the controversies surrounding the bills, the National Economic Council recommended that President Bola Tinubu withdraw them to allow for further consultations. However, he declined and stated that the bills should proceed through the necessary legislative processes.