Tinubu Urges Media Support for Tax Reforms, Calls It a Springboard for National Prosperity

President Bola Tinubu has appeased the media to support his administration’s proposed tax reforms, describing it as a springboard that will create an enduring national wealth and prosperity for all Nigerians.

The President echoed this at the 2024 Nigerian Media Merit Awards, held at the Muson Centre in Lagos.

Likewise, at Ibadan on Monday, Tinubu said the ongoing deliberation on the four proposed Tax Bills before the National Assembly was a good example of collaboration needed to deepen the nation’s democracy.

However, speaking in Lagos, Tinubu, who was represented by the Minister of Information and National Orientation, Mohammed Idris, said there was a national consensus on the need for a complete overhaul of the current tax administration system even though there are divergent views on the details of the proposed tax reforms.

He, however, expressed optimism that through the ongoing dialogue on the tax reforms, there would be many areas of convergence of opinions.

“I will say with every sense of conviction that our policies are deliberate and well-thought-out. We are headed toward the restoration of Nigeria, on a path requiring a comprehensive approach that addresses economic diversification, human capital development, infrastructure development, wealth creation, and inclusive growth.

“Among our various landmark reforms is the one focused on tax, by far one of the most profound steps necessary for setting Nigeria onto the path of enduring national wealth and prosperity for all our people.

“There is a consensus that the tax administration system in Nigeria requires reform. We may not all agree on every detail of the required reform, but there will be many areas of convergence,” the President said,

He stated that the tax bills before the National Assembly would streamline the number of taxes, ease the burden on vulnerable Nigerians, increase the share of taxes going to the states and foster business growth through targeted incentives.

The President added that the reforms and other programmes being implemented under the Renewed Hope Agenda, including subsidy removal, unification of multiple exchange rates, and tax restructuring, were well-thought-out, bold but necessary steps designed to free resources and redirect them toward economic growth, infrastructure development, and human capital advancement.

“Just days ago, the Federation Accounts Allocation Committee recorded the highest-ever revenue distribution figure in the history of our country. These are the much-needed resources being freed up for investment in critical areas of the economy.

“At the federal level, these revenues are already financing impactful initiatives like the consumer credit scheme, students loan fund, presidential grants & loans scheme, the MSME clinics, three million technical talent programme (3MTT), presidential CNG initiative, massive road infrastructure projects, among many others. In the spirit of our federation, the various state and local governments also have their policies and programmes, meant to complement ours,” he said.

He also stated that aside the increased revenues being received and distributed monthly to all tiers of government, there was a similar effort that went into ensuring financial autonomy for local governments, the closest tier of government to the people.

The President urged the media to amplify the narratives around the reforms for better public understanding, emphasising their critical role in countering misinformation and guiding Nigerians with accurate and purposeful information.

He congratulated the 2024 NNMA Awards winners and their media organisations, and reiterated the commitment of his administration to ensuring that the fundamental rights of the press are upheld.

He said his administration was committed to ensuring that the fundamental rights of the press were guaranteed, adding the media and civic spaces must be protected at all times in the interest of Nigeria and her fledgling democracy.

Tinubu said: “This guarantee of media freedom comes with the associated obligation to exercise responsibility in the exercise of that freedom, especially in this digital age with its unstoppable viral mechanisms that sadly appear to favourfalsehoods more than truth.”

The President also expressed gratitude for the courage and determination of the Nigerian media in birthing and defending the nation’s much-cherished democracy

He appraised Nigerian journalists, home and abroad for distinguishing themselves in every stratum of the profession by winning prizes and global accolades.

As part of his administration’s determination to combat misinformation, disinformation, and hate speech in Nigeria, the President said he had recently approved funding for the take-off of the UNESCO Media and Information Literacy Institute (MIL), the first of its kind in the world, to operate within the National Open University of Nigeria (NOUN) in Abuja.

He said the MIL aims to equip Nigerians with the skills to differentiate between credible sources and misinformation, fostering critical thinking in an era where fake news, propaganda, and biased reporting can heavily influence public opinion and decision-making.

Meanwhile, at Ibadan yesterday, Tinubu, stressed that the ongoing deliberation on the four proposed Tax Bills before the National Assembly was a good example of collaboration needed to deepen the nation’s democracy.

He said the bills when enacted would streamline tax administration, enhance revenue generation, and promote equitable resource allocation.

Tinubu who spoke in his goodwill message at the 75th posthumous birthday of a former governor of Oyo State, late Senator Abiola Ajimobi, held in Ibadan, added that the reforms are pivotal to his mission of building an inclusive, prosperous, and sustainable Nigeria and making the country competitive to attract foreign direct investment.

The event which also doubled as the 7th Annual roundtable of the deceased governor was organised by the Senator Abiola Ajimobi Foundation (SAAF) in collaboration with the Institute for Peace and Strategic Studies, University of Ibadan, with the theme, “Legislative Oversight and Accountability in Nigeria : Challenges and Prospects”, also attracted political bigwigs from the state, South West and all over the country including political associates, family members, friends, party loyalists, among others.

Present at the event included Vice President Kashim Shettima represented by his Special Adviser on Economic Affairs, Mr. Tope Fasua; the National Chairman, All Progressives Congress (APC), Dr. Umar Ganduje; Governor of Imo state, Hope Uzodinma; Deputy Senate President, Barau Jibrin; Senate Leader, Senator OpeyemiBamidele; Chairman/Chief Executive Officer, Federal Inland Revenue Service (FIRS), Dr. Zaccheus Adedeji; former deputy governors Moses Alake-Adeyemo and Rauf Olaniyan; the Olubadan of Ibadanland, Oba Owolabi Olakulehin who was represwnted by Senator Sharafadeen Alli; the Oluwo of Iwo land, Oba AbdulrashidiAkanbi and Soun of Ogbomosho, Oba Ghandi Olaoye, among other dignitaries.

Tinubu represented by the Director General, Nigeria Institute of Peace and Conflict Resolution (IPCR), Dr. Joseph Ochoku, stressed that the need to forge a consensus was at the heart of his sustained engagements since the inauguration of the Renewed Hope Administration on 29th May 2023, noting that as a democrat, he was committed to the separation of powers and the legislature’s responsibility in carrying out oversight functions.

On the theme, the President said it was timely and crucial for the country’s future, adding that effective legislative and executive collaboration is needed to entrench efficient legislative oversight of public policies and programmes in the drive of the Renewed Hope Agenda through fiscal, economic, energy, tax, and other critical reforms.

He added that in initiating and facilitating the tax reforms, his government was mindful of the legislature’s position and the imperative of building consensus among all the stakeholders in a democratic setting.

According to him, “The need to forge a consensus is at the heart of our sustained engagements since the inauguration of the Renewed Hope Administration on 29th May 2023. As Democrats, we are committed to the separation of powers and the legislature’s responsibility in carrying out oversight functions.

“The commitment of our administration to open government, constructive scrutiny, accountability, and transparency has positioned us to strengthen the anti-graft institutions, especially the Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices and Other Offences Commission (ICPC), the Code of Conduct Bureau (CCB), as well as institutionalizing effective mechanisms for enhanced institutional collaboration.

“On Legislative Oversight and Governance: In any thriving democracy, legislative oversight is the backbone of governance. Through this mechanism, the legislature ensures the accountability of the executive arm and evaluates policies, thereby maintaining public trust. However, this process is challenging, particularly in a diverse and dynamic nation like Nigeria.

“My administration is determined to forge a harmonious relationship between the executive and legislative arms of government. Despite occasional tensions, we recognise that effective governance is a shared responsibility. Collaboration, not confrontation, must define our interactions as we work towards the collective goal of improving the lives of our people.

“An example of this collaboration is the ongoing deliberation on the four proposed Tax Bills before the National Assembly. These reforms, when enacted, promise to streamline tax administration, enhance revenue generation, and promote equitable resource allocation.

“They are pivotal to our mission of building an inclusive, prosperous, and sustainable Nigeria and making our country competitive to attract foreign direct investment.

“We firmly believe that democracy, as the best form of government, guarantees the independence of the legislature and judiciary. We also believe in press freedom and in holding government accountable.

“Thus, in our drive to deepen and consolidate the culture of democratic governance, we have been working assiduously to insulate the constitutional roles and functions of each arm of government from primordial sentiments, lack of engagement, and the dissemination of fake news and hate speeches. We are constructively engaging critical issues of governance, democracy, and development through reforms to meet citizens’ hopes and expectations and restore their confidence in the government’s capability to provide security and enhance their well-being.”

Commending the virtues of the deceased, Tinubu said late Ajimobi was not just a political ally but also a brother and friend to him, and it was a deeply felt loss.

Admiring the courage, humility, honesty, diligence, commitment, and dedication of late Ajimobi to his beloved wife, his family, and most importantly, to Nigeria, the President said the deceased unwavering commitment to democratic ideals over the years has been a source of inspiration for all.

He recalled that Ajimobi played a critical role in the opposition movement and the All Progressives Congress (APC), which became the ruling party in 2015, highlighting what he described as his sincerity and people-centred commitment in the early days of the fourth Republic which earned him the senatorial seat and the opportunity to serve as Deputy Minority leader of the Nigerian Senate.

In his keynote address, Senator Opeyemi Bamidele, enumerated the oversight powers of the National Assembly as enshrined in the 1999 constitution adding that despite the best efforts, “a lot more remains to be done in respect of oversight.

“Effective legislative oversight requires close collaboration with the executive. In conducting oversight, the principles of cooperative government and intergovernmental equations must be taken into consideration, including the separation of powers and the need for all spheres of government and all organs of state to exercise their powers and perform their functions in a manner that does not encroach on the geographical, functional or institutional integrity of government in another sphere.”

Earlier in her remarks, SAAF President and wife of late Senator Ajimobi, Dr. Florence Ajimobi, said the event was not only in honour of her late husband but also in further realising his wishes and desire to advance the course of good governance at all levels in the country.

Olawale Ajimotokan and Kemi Olaitan

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