President Bola Ahmed Tinubu has reaffirmed his administration’s commitment to tax reforms, stating that they are essential for modernizing Nigeria’s tax system and ensuring economic progress.
Speaking during his first Presidential Media Chat on Monday, Tinubu emphasized that the reforms are designed to address outdated practices and foster a fair and sustainable tax environment.
“Tax reform is here to stay. In today’s economy, we cannot continue to do what we were doing in the past. We can’t retool with old and broken folks,” the president said.
He explained that the reforms aim to eliminate “colonial-based assumptions” that have long shaped Nigeria’s tax system.
“The essence of tax reform is to eliminate colonial-based assumptions in our tax environment,” he added.
Tinubu also defended the reforms against criticism, particularly regarding their potential impact on vulnerable groups.
“Every tax situation without outcry is not a tax. You can’t satisfy uniformly the largest community of tax evaders. Look at this tax reform; it is pro-poor. The vulnerable are not to pay taxes,” he said.
Highlighting his leadership philosophy, Tinubu stated, “The hallmark of a good leader is the ability to do what you have to do at the time it ought to be done. That is my philosophy.”
When asked about potential concessions on the proposed Value-Added Tax (VAT) sharing model, which has sparked controversy, especially among northern stakeholders, Tinubu expressed openness to negotiations.
“Tax matters are subject of debates, reviews, and negotiations until you reach a consensus. I don’t mind cutting edges. I will,” he said.
