Tinubu commends governors for supporting tax reform initiatives

By Kunle Sanni

President Bola Tinubu has praised the Nigeria Governors’ Forum (NGF) for unanimously endorsing the four Tax Reform Bills currently under consideration by the National Assembly.

The NGF, in a statement issued on Thursday following its meeting with the Presidential Committee on Tax and Fiscal Policy, proposed an “equitable” sharing formula for Value-Added Tax (VAT).

The governors also recommended that there should be no terminal clause for agencies such as the Tertiary Education Trust Fund (TETFUND), National Agency for Science and Engineering Infrastructure (NASENI), and the National Information Technology Development Agency (NITDA) in the allocation of development levies under the proposed bills.

They expressed full support for the continuation of the legislative process, which will lead to the eventual passage of the reform bills.

In a statement released on Friday by Bayo Onanuga, Special Adviser to the President on Information and Strategy, President Tinubu commended the governors for their leadership and commitment to fostering unity among leaders, transcending regional, ethnic, and political divides to advance Nigeria’s development.

“Thursday’s productive consultation between the Nigeria Governors’ Forum and the Presidential Committee on Tax and Fiscal Policy is a commendable example of cooperation between the Federal and State governments,” the President stated.

He particularly acknowledged the efforts of the NGF Chairman, Kwara State Governor AbdulRahman AbdulRazaq, for mobilizing support among his peers for the transformative tax reform bills, aimed at revitalizing the national economy and improving Nigeria’s investment climate.

Tinubu also applauded the Progressive Governors Forum, the Northern Governors Forum, and other groups for their bipartisan efforts to resolve the controversies surrounding the tax bills.

The President reiterated that the Tax Reform Bills are pro-poor, with the primary objective of promoting national interests, enhancing Nigeria’s economic competitiveness, and attracting both local and foreign investments.

He emphasized that updating the nation’s outdated tax laws is critical to achieving these goals.

Tinubu highlighted the importance of dialogue in resolving differences, as demonstrated by the discussions between the NGF and the Presidential Committee on Tax and Fiscal Policy Reform.

He affirmed that the governors are essential partners in nation-building and pledged to continue working with them to foster economic growth, peace, and national stability.

The President also encouraged other stakeholders to contribute ideas and suggestions to refine the Tax Bills through the ongoing legislative process.

Finally, Tinubu urged the National Assembly to expedite the passage of the Tax Reform Bills to enable Nigeria to quickly benefit from the reforms.

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