Tax reforms under the administration of President Bola Tinubu are targeted at improving the system for the overall benefit of all Nigerians Vice President Kashim Shettima has stated.
According to a statement on Saturday by Senior Special Assistant to the President on Media and Communications, Office of the Vice President, Stanley Nkwocha, Shettima spoke at the close-out retreat of the Presidential Fiscal Policy and Tax Reforms Committee held at the Transcorp Hilton, Abuja.
The Vice President, who was represented by Special Adviser to the President on General Duties (Office of the Vice President), Dr. Aliyu Moddibo Umar, also emphasised the reforms aim to revitalise revenue generation in Nigeria while sustaining an investment-friendly and globally competitive business environment.
According to him, contrary to speculations in some quarters, “we are not here to frustrate any sector of our economy but to create an administrative system that ensures the benefits of a thriving tax system for all our citizens.”
Shettima explained the policy thrust of the administration’s tax reforms, pointing out that the dynamics of the nation’s fiscal landscape prompted the Tinubu administration to pause and reconsider the direction it was going.
“Our aim remains the revitalisation of revenue generation in Nigeria while sustaining an investment-friendly and globally competitive business environment,” he noted.
While expressing confidence in the ability of the committee to deliver on the mandate, the VP emphasized the significance of the task ahead, noting that “we are gathered today because we are transitioning from the phase of proposal in the operations of this committee’s work to the phase of implementation.
“I am confident that both the federal and state governments stand ready to ensure the effective implementation of your reform proposals, and we shall provide the institutional framework to guarantee the adoption of the consensuses of this committee, aligning them with our economic agenda,” he added
