President Bola Tinubu has firmly committed to pushing ahead with the country’s major tax overhaul, insisting the changes will launch as planned and create a more equitable system.
In a Tuesday statement, the President called the reforms a rare chance to rebuild Nigeria’s fiscal framework for long-term growth.
Not a Tax Increase — A System Overhaul
Tinubu made clear the goal is not to raise burdens on ordinary citizens. The focus rests on three core areas:
- Simplifying overlapping taxes to end duplication
- Building a modern structure that attracts investment
- Fostering greater accountability between government and citizens
He stressed patience is key: “Real confidence grows from consistent, thoughtful choices, not rushed reactions.”
Relief for Workers and Small Firms
The Presidential Committee on Fiscal Policy and Tax Reforms highlighted the people-centred design:
- Around 98% of employees will pay little or no tax
- Roughly 97% of small businesses will qualify for exemptions or reduced rates
The changes shift revenue responsibility toward higher-capacity sectors.
Final Steps Underway
Committee Chairman Taiwo Oyedele confirmed the Nigeria Tax Act and Nigeria Tax Administration Act are in the last preparation phase.
Tinubu pledged close cooperation with the National Assembly to address any concerns, always prioritising national prosperity.
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