Tinubu Appeals to Media for Support on Tax Reforms

President Bola Tinubu has urged the Nigerian media to support his administration’s tax reform agenda, describing it as a critical step toward sustainable wealth creation and national prosperity.

Speaking at the 2024 Nigerian Media Merit Awards, held at the Muson Centre in Lagos and represented by the Minister of Information and National Orientation, Mohammed Idris, Tinubu highlighted the need to overhaul the country’s tax administration system.

The President noted that while opinions may differ on specific aspects of the reforms, there is general agreement on the necessity for change. He expressed optimism that ongoing discussions would foster consensus on key areas.

Tinubu outlined the objectives of the tax reforms, which include streamlining the number of taxes, easing burdens on vulnerable Nigerians, increasing revenue allocation to states, and fostering business growth through targeted incentives.

The reforms are part of the Renewed Hope Agenda, which also includes subsidy removal and unification of exchange rates to redirect resources toward economic growth, infrastructure development, and human capital advancement.

Highlighting progress, the President mentioned the Federation Accounts Allocation Committee’s record-high revenue distribution, with funds allocated to projects such as student loans, consumer credit schemes, and road infrastructure.

Tinubu also emphasized the importance of financial autonomy for local governments and called on the media to promote accurate narratives about the reforms to counter misinformation and ensure public understanding.

Source: Sahara Reporters