Tinubu gave the order for the committee’s recommendations to be rapidly and immediately adopted by the Federal Government’s ministries, departments, and agencies.
The report on tax reforms and fiscal policy has been given to President Bola Tinubu.
This was revealed to journalists on Tuesday at the Presidential Villa in Abuja by Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms.
He stated that the committee has completed the first phase of the presidential mandate given to the committee and will now start working on the second phase, which is on critical fiscal reforms. He added that the reforms will entail legislative and constitutional amendments that will lower the over 200 official and unofficial taxes collected from Nigerians across the various federating units to below 10, and that this will be accomplished by reducing the number of official and unofficial taxes from over 200 to under 10.
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Ajuri Ngelale, the president’s press secretary, told reporters that Tinubu had instructed Hadiza Bala Usman, the special adviser to the president on policy coordination, to communicate with George Akume, the secretary to the government of the federation, and the chairman of the tax policy review committee to ensure that the committee’s recommendations are swiftly and immediately implemented across all federal departments, agencies, and ministries.
According to Ngelale, the action is being taken to ensure that there is effective synergy and that every institution of the Federal Government is in agreement with each other over how tax policy would be applied.
According to him, the President emphasised that nothing needed to be done at the expense of the most disadvantaged groups in society.
On August 8, President Bola Tinubu formally established the Presidential Committee on Fiscal Policy and Tax Reforms, giving it a one-year deadline to complete its work. They are initially required to present a plan of fast reforms that can be put into place within thirty days. Within six months, crucial reform proposals should be made, and full implementation should happen within a year.
