President Bola Tinubu has stated that there is no going back in the passage and implementation of the proposed Tax Reform Bills currently before the National Assembly.
Tinubu made this declaration during his Maiden Presidential Media Chat on Monday in Lagos.
TheFact Daily reports that the proposed tax reform bills have been a subject of controversy since October 2024, when the bills were submitted by President Bola Tinubu to the National Assembly for legislative approval.
According to the President, the four bills, the Nigeria Tax Bill 2024, Tax Administration Bill, Nigeria Revenue Service Establishment Bill, and Joint Revenue Board Establishment Bill, were crafted to align with his administration’s goals of economic transformation and inclusive growth.
The bills, which had passed through the second reading at the Senate, have been seen by some notable Nigerians as capable of promoting inequality and poverty in the country, thus calling for more consultations and review.
Speaking on the Tax Reform Bills, President Tinubu said “the tax reform bills remain,” explaining that the essence of the tax reforms was to eliminate the colonial-based taxes currently operational in the country.
President Tinubu also affirmed that he has no regret for removing subsidies on petroleum products in Nigeria.
He said the move was necessary to prevent the country from eating tomorrow today.
On the death of 67 people in Oyo, Anambra, and the Federal Capital Territory (FCT) during palliative sharing, the president said the incident was a grave error on the part of the organisers, emphasising the importance of discipline and orderliness among citizens.
While declaring that he has confidence in his security architecture, President Tinubu stressed the need for the deployment of technology and the development of high-tech weaponry to permanently address the nation’s mountainous security challenges.
