BREAKING: Tinubu Fires Back at Critics of Tax Reforms Bills, Says "No Going Back"

• President Bola Tinubu has reiterated his position on reforming the current tax system in Nigeria as he explained the importance of his tax reform bills
• The president explained that there is no going back on the proposed tax reform bills before the National Assembly
• Recall that there has been criticism against the bills, particularly from the northern elites, including the governors of the region

President Bola Tinubu has reaffirmed his commitment to implementing comprehensive tax reforms in Nigeria, adding that "there is no going back" on the move.

Tinubu, who defended the tax reform bills, emphasised their crucial roles in the country's economic transformation.

The president explained that the tax reforms aim to modernise the tax system, broaden the revenue base, and support Nigeria's development goals. Tinubu stressed that the reforms are designed to be pro-poor and inclusive, targeting the expansion of the tax net rather than burdening low-income earners.

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Speaking at a media chat on Monday, December 23, monitored by Legit.ng, Tinubu explained that the country's current tax system is outdated and does not conform to reality. He hammered on the need to address tax evasion and stressed the importance of ensuring that the higher community of taxpayers benefits from paying taxes.

Tinubu explains focus of his administration

The president asserted that his administration is focused on making tough but necessary decisions to stabilise the economy. He defended his cabinet's performance amid calls for reshuffling, asserting that his ministers add value and effectively manage their assignments.

Despite criticism, the president remains resolute in pursuing economic transformation, stating that "tax reforms are here to stay" and that Nigeria cannot continue to rely on outdated systems.

Tinubu added that the tax reforms have been designed to relieve tens of millions of hardworking Nigerians nationwide and empower states and local governments for sustainable growth and development.

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"How best to fight corruption in Nigeria", Tinubu speaks

See the video of the media chat here:

FG announces slash in transportation fares

Legit.ng earlier reported that Tinubu's administration announced a 50% discount on road transportation fares during the Christmas and New Year holidays.

Said Ahmed Alkali, Tinubu's minister of transportation, announced the development on Monday, December 23, noting that the programme would run from 24 to January 5, 2025.

The minister further revealed the number of passengers the busses targeted to carry across the country.

Proofreading by James, Ojo Adakole, journalist and copy editor at Legit.ng.

Source: Legit.ng