My Administration’s Reforms Are Key to Nigeria’s Prosperity – Tinubu

President Bola Tinubu has emphasized that the reforms of his administration are crucial steps toward creating lasting national wealth and prosperity for all Nigerians.

In remarks delivered on his behalf by Mohammed Idris, the Minister of Information and National Orientation, at the 2024 Nigerian Media Merit Awards held at the Muson Centre in Lagos on Sunday, Tinubu reaffirmed his commitment to national progress.

While acknowledging differing opinions on specific aspects of proposed tax reforms, the president stressed that there is broad consensus on the necessity of overhauling Nigeria’s tax system.

“Our policies are intentional and carefully crafted,” Tinubu stated. “We are on the path to restore Nigeria, taking a comprehensive approach that encompasses economic diversification, human capital development, infrastructure advancement, wealth creation, and inclusive growth.”

One of the administration’s key reforms is the overhaul of the tax system, which Tinubu described as one of the most significant steps toward ensuring sustainable national prosperity.

“There is consensus that the tax system in Nigeria needs reform. While we may not agree on every detail, there is much common ground on the need for change,” he said.

The president explained that the tax bills currently before the National Assembly are designed to streamline the number of taxes and reduce the financial burden on vulnerable Nigerians. He also highlighted that the reforms aim to increase the tax revenue shared with states and stimulate business growth through targeted incentives.

Tinubu noted that just recently, the Federation Accounts Allocation Committee reported the highest revenue distribution figure in Nigeria’s history. He described this as a crucial development that would unlock much-needed resources for investment in critical sectors of the economy.

“At the federal level, these resources are already supporting impactful initiatives such as the consumer credit scheme, student loan fund, presidential grants and loans scheme, MSME clinics, the 3 million technical talent program (3MTT), the presidential CNG initiative, and major infrastructure projects, among others,” he said.

In recognition of the country’s federal structure, Tinubu pointed out that state and local governments are also implementing their own policies and programs to complement the federal government’s efforts.

President Bola Tinubu has emphasized that the reforms of his administration are crucial steps toward creating lasting national wealth and prosperity for all Nigerians.

In remarks delivered on his behalf by Mohammed Idris, the Minister of Information and National Orientation, at the 2024 Nigerian Media Merit Awards held at the Muson Centre in Lagos on Sunday, Tinubu reaffirmed his commitment to national progress.

While acknowledging differing opinions on specific aspects of proposed tax reforms, the president stressed that there is broad consensus on the necessity of overhauling Nigeria’s tax system.

“Our policies are intentional and carefully crafted,” Tinubu stated. “We are on the path to restore Nigeria, taking a comprehensive approach that encompasses economic diversification, human capital development, infrastructure advancement, wealth creation, and inclusive growth.”

One of the administration’s key reforms is the overhaul of the tax system, which Tinubu described as one of the most significant steps toward ensuring sustainable national prosperity.

“There is consensus that the tax system in Nigeria needs reform. While we may not agree on every detail, there is much common ground on the need for change,” he said.

The president explained that the tax bills currently before the National Assembly are designed to streamline the number of taxes and reduce the financial burden on vulnerable Nigerians. He also highlighted that the reforms aim to increase the tax revenue shared with states and stimulate business growth through targeted incentives.

Tinubu noted that just recently, the Federation Accounts Allocation Committee reported the highest revenue distribution figure in Nigeria’s history. He described this as a crucial development that would unlock much-needed resources for investment in critical sectors of the economy.

“At the federal level, these resources are already supporting impactful initiatives such as the consumer credit scheme, student loan fund, presidential grants and loans scheme, MSME clinics, the 3 million technical talent program (3MTT), the presidential CNG initiative, and major infrastructure projects, among others,” he said.

In recognition of the country’s federal structure, Tinubu pointed out that state and local governments are also implementing their own policies and programs to complement the federal government’s efforts.