President Rejects Calls to Withdraw Reforms
President Bola Tinubu has firmly stated that there will be no retreat from the controversial tax reforms his administration has recently introduced. During his first presidential media chat aired Monday night, Tinubu emphasized that the nation’s economic recovery cannot rely on outdated methods.
“Tax reform is here to stay; we cannot just continue with past practices in today’s economy. We need a new approach to revitalize our economic system,” Tinubu asserted. He expressed confidence in his leadership capacity, underlining his decision to enter the presidential race was motivated by a vision for Nigeria’s future. “I am focused on what Nigeria needs. It won’t be a paradise for everyone, but a new era is upon us,” he added, urging the public to share his conviction.
READ ALSO: Tinubu Lauds Positive Outcomes from Tax Reforms in 2025 Budget Presentation
Bills Under Fire in National Assembly
On October 3, Tinubu sent four tax reform proposals to the National Assembly, sparking significant debate and resistance, particularly from northern states. The proposed changes have been met with opposition, with critics arguing that they could disproportionately affect certain regions.
National Economic Council’s Recommendation Ignored
Despite the uproar and a recommendation from the National Economic Council to withdraw the bills for further consultation, President Tinubu remains resolute. He has insisted that these bills should proceed through the legislative process, allowing for amendments and input during this phase rather than pulling them back.