The Vice President, Kashim Shettima said that the reform of the Nigerian tax system under the administration of President Bola Tinubu is aimed at improving the system for the overall benefit of all Nigerians.
This was disclosed by the vice president srepresented by the Special Adviser to the President on General Duties (Office of The Vice President), Aliyu Moddibo Umar at the close-out retreat of the Presidential Fiscal Policy and Tax Reforms Committee held at the Transcorp Hilton, Abuja on Saturday, according to Channels News.
He said, “We are not here to frustrate any sector of our economy but to create an administrative system that ensures the benefits of a thriving tax system for all our citizens.”
According to a statement by his spokesman Stanley Nkwocha, the Vice President explained that the policy thrust of the Tinubu administration’s tax reforms, pointing out that the dynamics of the nation’s fiscal landscape prompted the Tinubu administration to pause and reconsider the direction it was going.
“Our aim remains the revitalization of revenue generation in Nigeria while sustaining an investment-friendly and globally competitive business environment,” he noted.
The Vice President underlined the importance of the task ahead as he expressed confidence in the committee’s ability to fulfill its mandate, noting that “we are gathered today because we are transitioning from the phase of the proposal in the operations of this committee’s work to the phase of implementation.
“I am confident that both the federal and state governments stand ready to ensure the effective implementation of your reform proposals, and we shall provide the institutional framework to guarantee the adoption of the consensuses of this committee, aligning them with our economic agenda,” he added.
Recall that Oyedele informed State House correspondents on October 24, 2023, that the Committee recommended merging more than 200 taxes paid by Nigerian businesses into ten and presenting a thirty-day Quick Win report to President Tinubu.
This follows the ongoing fiscal policy and tax reforms, which were launched last August by a Taiwo Oyedele-led Presidential Reform Committee.
