News SOCIETY WATCH following for you ; The President has said that the robust nationwide debate on the new tax reform bills currently before the National Assembly is welcomed, and commendable. It is very inspiring to see Nigerians from all walks of life coming out to express their views and opinions of these matters of critical national importance. This is the very essence and meaning of democracy.
2. I call on all commentators and groups to keep up the spirit of informed engagement, and to strive to be respectful and understanding at all times despite the diversity of opinions. In the spirit of democratic engagement, there should be no room for name-calling, or for the injection of unnecessary ethnic and regional slurs into this important national conversation.
3. Similarly, it is important to be aware that there is a lot of misinformation and fake news circulating around the tax bills and the overall reform agenda of the Bola Tinubu Administration. The fiscal reforms will not impoverish any State or region of the country, neither will they lead to the scrapping or weakening of any federal agencies.
4. Instead, they will bring relief to tens of millions of hardworking Nigerians across the country and empower and position our States and the 774 Local Governments for sustainable growth and development.
5. President Bola Tinubu is implementing an ambitious fiscal reform agenda that will devolve more resources to Nigeria’s State and Local Governments, and ultimately to the Nigerian people, in the spirit of harnessing democracy that works for the people.
6. It is pertinent to state that the government has nothing sinister to warrant the suggestion that the process is being rushed. In line with the established legislative procedure, the Federal General welcomes meaningful inputs that can address whatever grey areas there may be in the bill. In this vein, President Bola Tinubu has already directed the Federal Ministry of Justice and relevant officials who worked on the drafts to work closely with the National Assembly to ensure that all genuine concerns have been addressed before the bills are passed.
7. We are indeed witnessing, at this moment in the history of Nigeria, the most far-reaching, impactful and beneficial set of fiscal reforms that Nigeria has seen in decades.
8. In addition to the four tax bills being debated and deliberated upon, there is also the 2023 Supreme Court ruling on financial autonomy for local governments, which will significantly empower the tier of government that is closest to the Nigerian people.
9. In all, these reforms will not only facilitate increased revenues (without imposing additional tax burdens on the people), they will also make it possible for citizens to demand and enjoy greater accountability in the management of public resources at all levels of government.
10. President Bola Tinubu and the administration will continue to champion policies that close the loopholes and gaps through which Nigeria’s valuable public resources have been frittered away for decades.
11. On top of this necessary foundation, the resources being conserved and realised from these reforms will be invested in critical infrastructure (healthcare, education, transportation, digital technology, etc) and in social investments that will benefit all Nigerians and ensure that no one is left behind. This is the promise and the reality of the Renewed Hope agenda.
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