The Chartered Institute of Taxation of Nigeria encouraged President Bola Tinubu on Friday to slow down the adoption of radical economic measures in order to prevent disrupting the Nigerian economy.
CITN President, Samuel Agbeluyi delivered the advice to journalists during the 3rd Joint Council Retreat of CITN and the Association of National Accountants of Nigeria in Abuja.
“We applaud the government for getting off to a good start by removing the fuel subsidy, which has not benefited anyone in the country, he said. This government has made a significant effort to eliminate such waste.”
He claimed that while he thanks the President for establishing a committee to review the country’s tax structure, he would want to advise the government to be a little more cautious and less rash in some of its choices.
“For instance, the removal of subsidies that resulted in the present price of petrol had a significant negative impact on the populace.
“We might need to hold down the implementation of other initiatives in order to avoid making the shock too severe.”
He stated that Tinubu started well and needs the support of everyone. However, at this stage, what needs to be done is to control what we have implemented and gradually roll out new regulations to avoid upsetting the system
Speaking on the necessity for palliatives, Agbeluyi suggested that there should be sufficient coordination in this area but objected to giving out money to individuals.
“CITN has been discussing these palliatives not just under this government, the government must, among other things, coordinate its initiatives and programs,” he said.
