President Bola Ahmed Tinubu has reaffirmed his commitment to implementing the controversial tax reforms introduced by his administration, emphasizing that they are essential for Nigeria’s economic progress.
Speaking during his maiden media chat in Ikoyi, Lagos, on Monday, Tinubu addressed concerns surrounding the reforms, particularly the uproar over Value Added Tax (VAT) adjustments and other provisions in the tax reform bills.
“Tax reform is here to stay,” the President declared. “We cannot just continue to do what we do in yesteryears in today’s economy.”
When asked how he plans to manage opposition to the reforms, Tinubu acknowledged the contentious nature of tax matters. “Tax matters are subject to debate… until you reach concessions. I don’t mind cutting edges. I will,” he said.
The tax reform bills, which recently passed the first reading in the Senate, have sparked significant controversy, including pushback from various regions and lawmakers.
Former Senate Chief Whip and Senator representing Borno South, Ali Ndume, voiced his opposition on Sunday, calling for the withdrawal of the bills to allow for further consultation. He argued that the reforms, as currently proposed, are detrimental not only to the northern region but to the nation as a whole.
“My opposition to the bills is not borne out of sentiment but the need to review certain sections,” Ndume stated, emphasizing the North’s role as an asset rather than a liability to the country.
Despite the resistance, Tinubu remains resolute in advancing the reforms, positioning them as a cornerstone of his administration’s economic agenda.
