FG committed to comprehensive tax reforms – Tinubu, Shettima

President Bola Ahmed Tinubu has stated that his administration is committed to bold and comprehensive reforms to reposition the country’s fiscal and financial architecture for resilience, inclusiveness and sustainable economic growth. Tinubu said this on Tuesday in Abuja at the 27th Annual Chartered Institute of Taxation of Nigeria (CITN) Tax Conference with the theme, ‘Taxation […]

President Bola Ahmed Tinubu has stated that his administration is committed to bold and comprehensive reforms to reposition the country’s fiscal and financial architecture for resilience, inclusiveness and sustainable economic growth.

Tinubu said this on Tuesday in Abuja at the 27th Annual Chartered Institute of Taxation of Nigeria (CITN) Tax Conference with the theme, ‘Taxation for development, policies, law and implementation’.

President Tinubu, represented by the Minister of State for finance, Dr. Doris Uzoka-Anite, explained that the central pillar of the reforms was taxation.

Daily Trust reports that despite pockets of opposition, the tax reform bill has been passed by both chambers of the National Assembly and is currently awaiting the assent by President Tinubu, to become law.

“I believe that a robust, transparent and fair tax system is essential not only for financing government operations but also for creating an environment of accountability, stability and long-term development.

“Accordingly, the government has taken deliberate steps to restructure and modernise our tax administration and legal framework. In this regard, the establishment of the Presidential Committee on Fiscal Policy and Tax Reforms marked a significant turning point,” he said.

Speaking earlier, Vice President Kashim Shettima, stated that the conference’s theme was evidence that the CITN acknowledges the centrality of government’s revenue generation in the achievement of growth and development for any country.

Shettima, represented by the Special Adviser to the President on Economic Affairs in the Office of the Vice President, Dr. Tope Fasua, said, “Taxation is crucial to the achievement of economic development. We hope to listen to ideas at this conference around how to ensure that a stakeholder’s view is taken right from the policy enactment stage up to the point of implementation.”

Also, the 16th President and Chairman of CITN Council, Mr. Samuel Agbeluyi, said that tax was an important factor in every economy.

He said that taxation was not merely a tool for revenue generation but a powerful instrument for promoting equity, redistributing wealth, incentivising growth and funding public services.

“However, for taxation to truly serve these developmental goals, policy formulation, legal framework and implementation mechanisms must be harmoniously aligned.

“When policy is progressive, the law is enabling and implementation is both efficient and equitable.

“The result is a tax system that engenders trust, encourages voluntary compliance and delivers shared prosperity. Nigeria faced significant challenges from economy to security and social dimensions, adding that there was a dire need for sustainable solutions,” Agbeluyi said.

He said that at the heart of these solutions lies Nigeria’s tax system, thus one cannot overlook the commendable effort by the Tinubu-led administration.