Tinubu to Reduce Tax Intensity, Receives Report On Fiscal Policy

President Bola Tinubu has received the report on Fiscal Policy and Tax reforms, and plans to reduce the over 200 official and unofficial taxes collected from Nigerians across the different federating units, to below 10..

The Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, disclosed this to journalists at the Presidential Villa on Tuesday in Abuja.

He said the committee had fulfilled the first part of the presidential mandate given to the committee and will now commence work on the second phase, which is on critical fiscal reforms, adding that the reforms will entail legislative and constitutional amendments that will reduce the over 200 official and unofficial taxes collected from Nigerians across the different federating units, to below 10.

Briefing journalists also, the presidential spokesman, Ajuri Ngelale, said Tinubu has directed the Special Adviser to the President on Policy Coordination, Hadiza Bala Usman, to liaise with the Secretary to the Government of the Federation, George Akume, 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.

The move, Ngelale said, is to ensure that there is effective synergy and to ensure that every institution of the Federal Government is on the same page concerning how tax policy will be implemented.

He said the President emphasized that all must be done without undue burden being placed on the most vulnerable segments of the society.

President Bola Tinubu inaugurated the Presidential Committee on Fiscal Policy and Tax Reforms on August 8 and mandated the committee to “achieve its mandate within one year.

They are, in the first instance, expected to deliver a schedule of quick reforms which can be implemented within thirty days. Critical reform measures should be recommended within six months and full implementation will take place within one calendar year.”

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