By John Audu
President Bola Tinubu extended his appreciation to members of the Nigeria Governors’ Forum on Friday following their unanimous endorsement of four Tax Reform Bills currently under consideration by the National Assembly.
In a statement released by his Special Adviser on Information and Strategy, Bayo Onanuga, Tinubu commended the governors for their “bold leadership and commitment to fostering unity among leaders nationwide.” The statement, titled “President Tinubu Commends Nigeria Governors for Supporting Tax Reform Initiatives,” highlighted the significance of this consensus, which transcends regional, ethnic, and political barriers to advance Nigeria’s development.
OBSERVERS TIMES earlier reported that the governors endorsed Tinubu’s proposed tax reform bills on Thursday, including the controversial shift to a derivation-based VAT model. The President characterized the recent consultation between the Nigeria Governors’ Forum and the Presidential Committee on Tax and Fiscal Policy as “a commendable example of cooperation between the Federal and State governments.”
Tinubu expressed special appreciation for the Chairman of the Governors’ Forum, Kwara State Governor Abdulrahman AbdulRazaq, for effectively rallying support among his peers for these transformative tax bills aimed at rejuvenating the national economy and enhancing Nigeria’s investment climate.
He also acknowledged the efforts of the Progressive Governors Forum, the Northern Governors Forum, and other groups that facilitated the bipartisan resolution of the controversies surrounding the tax bills.
The President emphasized that the primary objective of the Tax Reform Bills is pro-poor, aiming to promote national interests, improve the competitiveness of Nigeria’s economy, and attract both local and foreign investments. He argued that updating the country’s outdated tax laws is essential to achieving these goals.
“The dialogue between the NGF and the Presidential Committee on Tax and Fiscal Policy Reform exemplifies the power of constructive conversation in resolving differences,” the statement noted.
Tinubu recognizes the governors as vital contributors to nation-building and reaffirms his commitment to partnering with them to promote economic growth, national harmony, peace, and stability.
He encouraged other stakeholders with ideas and suggestions for refining the Tax Bills to engage with the ongoing legislative process at the National Assembly. The President also urged the National Assembly to expedite the legislative process for these crucial bills so that the country can swiftly benefit from the reforms.
