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Thursday, December 26, 2024

Tax reforms in Nigeria long overdue – Minister

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Nigeria’s Minister of Information and National Orientation, Mohammed Idris, has emphasized that President Bola Tinubu’s tax reform initiatives are critical and long overdue for the country’s economic progress.

Speaking at an event organized by the Kaduna Chapter of the Nigerian Institute of Public Relations on Saturday, themed “Tax Reforms: The Role of Public Relations in Fostering Constructive Dialogue for National Economic Renaissance,” Idris highlighted the pressing need to modernize Nigeria’s tax system.

He noted that outdated structures and widespread mistrust among taxpayers have hindered the effectiveness of the tax administration system. “Globally, effective taxation is a vital financial tool for governments to provide social services for their citizens,” Idris said.

“However, Nigeria’s tax system has long required reform due to design flaws, poor implementation, and negative taxpayer attitudes.”

The minister praised the Presidential Committee on Fiscal and Tax Reform for its transparent and inclusive approach, adding that the ongoing review of tax laws is essential for building a robust foundation for economic recovery.

Reaffirming the government’s commitment to participatory democracy, Idris stated, “President Tinubu has consistently emphasized the importance of engaging all stakeholders to address concerns comprehensively. The Executive remains open to collaboration with the National Assembly and other partners on these taxation reforms.”

He urged Nigerians to view the reforms as a collective effort, assuring them of significant social and economic benefits.

“We are all in this together as one people, one nation. Just as we are being called to make sacrifices, we will collectively reap the rewards of these essential reforms,” Idris concluded.

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