President Bola Tinubu has reaffirmed his commitment to implementing the contentious tax reforms introduced by his administration, despite widespread resistance and calls for reconsideration.
During his maiden presidential media chat on Monday night, President Tinubu emphasized that Nigeria’s economy cannot be revitalized using outdated methods, insisting the reforms are essential for sustainable growth.
“Tax reform is here to stay; we cannot just continue to do what we were doing years to years in today’s economy. We cannot retool this economy with the old broken books, and I believe I have that capacity—that is why I went into the race,” Tinubu said.
He expressed confidence in his administration’s direction, urging Nigerians to trust the process. “I am focused on what Nigeria needs and what I must do for Nigeria. It is not just going to be eldorado for everybody, but the new dawn is here. I am convinced, and you should be convinced,” he added.
The reforms, encapsulated in four tax bills submitted to the National Assembly on October 3, have sparked significant opposition, particularly from the Northern region. Critics argue the measures could place additional burdens on an already strained populace.
Amid the backlash, the National Economic Council had recommended a temporary withdrawal of the bills to allow for broader consultations. However, President Tinubu dismissed this suggestion, insisting the bills proceed through the legislative process.
The proposed tax reforms are part of the administration’s broader economic agenda to address fiscal imbalances and stimulate economic recovery, though they remain a polarizing issue across the nation.
