Tinubu directs immediate implementation of tax reforms

President Bola Tinubu on Tuesday directed the immediate implementation of fiscal policy and tax reforms recommendation of a report on the ‘quick-win achievement’.

The Special Adviser to the President on Media and Publicity, Ajuri Ngelale, disclosed this while briefing journalists in Abuja after the committee met with the president in Abuja on Tuesday.

Earlier in July, Mr Tinubu approved the establishment of a Presidential Committee on Fiscal Policy and Tax Reforms and appointed Taiwo Oyedele as the chairman of the committee.

The government said the establishment of the committee reflects Tinubu’s commitment to addressing challenges and bringing about transformative reforms in fiscal policy and taxation.

The committee’s primary objective, according to the Nigerian government, is to enhance revenue collection efficiency, ensure transparent reporting, and promote the effective utilisation of tax and other revenues to boost citizens’ tax morale, foster a healthy tax culture, and drive voluntary compliance.

Ngelale on Tuesday explained that after listening to a presentation by the committee chairman, the president directed the Special Adviser to the President on Policy Coordination, Hadiza Bala Usman, to liaise with the secretary to the government of the Federation, and the Chairman of the Tax Policy Review Committee to ensure that the recommendations of the committee are swiftly and immediately implemented across all ministries, departments, and agencies of the federal government.

“This is to ensure that there is effective synergy and to ensure that every institution of the federal government is on the same page with respect to how tax policy will be implemented,” the statement said.

Tinubu also made available an opportunity for the recommendations of the tax policy review committee to be made a topmost priority at the next sitting of the Federal Executive Council (FEC) meeting on Monday.

“Mr President will continue to emphasise the importance of ensuring that our tax authorities are not taxing the seed, but are taxing the fruit. And that will continue to be the focus.

“We want to ensure that our citizens are receiving the best public service provision. And that is only going to be possible when we have expanded the tax net to such an extent that we are collecting tax to Gross Domestic Product (GDP), reaching the 18 per cent threshold as directed and targeted by His Excellency, Mr President.

“Without any undue burden being placed on the most vulnerable segments of our population and without, in any way, increasing any substantial form the taxes being levied on large scale industry, medium scale industry and small scale industry in the country,” the statement said.