Vice President Kashim Shettima says Nigeria’s tax reforms under the administration of President Bola Tinubu is targeted at improving the system for the overall benefit of all Nigerians.
He said contrary to speculations in some quarters, “we are not here to frustrate any sector of our economy but to create an administrative system that ensures the benefits of a thriving tax system for all our citizens.”
READ ALSO:
Nigerian Central Bank Directs Commercial Banks To Charge 0.5% Cybersecurity Levy On Transactions
The Vice President, represented by the Special Adviser to the President on General Duties (Office of The Vice President), Aliyu Moddibo Umar, spoke on Saturday at the close-out retreat of the Presidential Fiscal Policy and Tax Reforms Committee held at the Transcorp Hilton, Abuja.
According to a statement by his spokesman Stanley Nkwocha, the Vice President explained that the policy thrust of the Tinubu administration’s tax reforms, pointing out that the dynamics of the nation’s fiscal landscape prompted the Tinubu administration to pause and reconsider the direction it was going.
“Our aim remains the revitalisation of revenue generation in Nigeria while sustaining an investment-friendly and globally competitive business environment,” he noted.
While expressing confidence in the ability of the committee to deliver on the mandate, the Vice President emphasised the significance of the task ahead, noting that “we are gathered today because we are transitioning from the phase of proposal in the operations of this committee’s work to the phase of implementation.
“I am confident that both the federal and state governments stand ready to ensure the effective implementation of your reform proposals, and we shall provide the institutional framework to guarantee the adoption of the consensuses of this committee, aligning them with our economic agenda,” he added.