Tinubu’s Tax Reform will Boost Revenue and Reduce Loan Reliance
A spokesperson for President Bola Tinubu has explained what Nigeria tends to gain from the now controversial tax reform bills. The National Assembly is already debating on the bill albeit the controversial around the reform.
Mr. Sunday Dare has been very firm in his defence of the bill arguing that the country would benefit a lot from the reform once the federal lawmakers approve it.
Mr. Dare, who served under former president Muhammadu Buhari as well, said that the reform would assist in boosting revenue, reduction of reliance on loans and address thr rather weak tax base.
The media aide said, “President’s tax reform bills aimed at modernizing and strengthening the nation’s tax system. These reforms will boost revenue, reduce reliance on loans, and address the weak tax base that has left the country’s revenue-to-GDP ratio among the lowest in Africa.”
He added, “President Tinubu has made great efforts to pay down Nigeria’s backlog of debts and would effectively utilisize loans taken for national development. Nigeria today is not even in the list of the top 14 debtor nations in the world today. The names on the list will surprise. We must focus as a country and support ongoing efforts to rebuild our economy and improve well being.”
