President Bola Tinubu has called on the media to support his administration’s proposed tax reforms, emphasizing that they are crucial for creating long-term national wealth and prosperity for all Nigerians.
Speaking through the Minister of Information and National Orientation, Mohammed Idris, the President made the remarks on Sunday, December 15, during the 2024 Nigerian Media Merit Awards at the Muson Centre in Lagos.
President Tinubu acknowledged that while there may be differing views on the specifics of the proposed tax reforms, there is widespread agreement on the need to completely revamp the current tax system.
He expressed confidence that ongoing discussions surrounding the reforms would lead to shared perspectives on key issues.
“I will say with every sense of conviction that our policies are deliberate and well-thought-out. We are headed toward the restoration of Nigeria, on a path requiring a comprehensive approach that addresses economic diversification, human capital development, infrastructure development, wealth creation, and inclusive growth.
“Among our various landmark reforms is the one focused on tax, by far one of the most profound steps necessary for setting Nigeria onto the path of enduring national wealth and prosperity for all our people. There is a consensus that the tax administration system in Nigeria requires reform. We may not all agree on every detail of the required reform, but there will be many areas of convergence,” he said,
President Tinubu emphasized that the tax bills currently before the National Assembly are designed to reduce the number of taxes, lighten the financial load on vulnerable Nigerians, boost the tax revenue allocated to the states, and promote business growth through specific incentives.
He explained that the broader goals of the reforms under the Renewed Hope Agenda, such as the removal of subsidies, the unification of exchange rates, and tax restructuring, are carefully planned, bold yet essential measures aimed at freeing up resources and redirecting them towards economic growth, infrastructure development, and the advancement of human capital.
“Just days ago, the Federation Accounts Allocation Committee recorded the highest-ever revenue distribution figure in the history of our country. These are the much-needed resources being freed up for investment in critical areas of the economy.
“At the federal level, these revenues are already financing impactful initiatives like the consumer credit scheme, students loan fund, presidential grants & loans scheme, the MSME clinics, 3 million technical talent programme, 3MTT, presidential CNG initiative, massive road infrastructure projects, among many others. In the spirit of our federation, the various state and local governments also have their policies and programmes, meant to complement ours,” he said.
President Tinubu noted that, alongside the growing revenues being distributed monthly, significant efforts have been made to ensure financial autonomy for local governments, which are the tier of government closest to the people.
He called on the media to help spread the message about the reforms to foster better public understanding, stressing their vital role in combating misinformation and providing Nigerians with accurate, purposeful information.
The President congratulated the winners of the 2024 NNMA Awards and their respective organizations, reaffirming his administration’s commitment to upholding the press’s fundamental rights.
“My administration is committed to ensuring that the fundamental rights of the press are guaranteed. It is in the interest of Nigeria and her fledging democracy that the media and civic spaces are protected at all times. This guarantee of media freedom comes with the associated obligation to exercise responsibility in the exercise of that freedom, especially in this digital age with its unstoppable viral mechanisms that sadly appear to favour falsehoods more than truth,” he stated.
President Tinubu, expressing his appreciation for the courage and commitment of the Nigerian media in nurturing and protecting the country’s democracy, acknowledged that Nigerian journalists, both at home and abroad, have made significant marks across all levels of the profession, earning awards and international recognition.
As part of his administration’s efforts to tackle misinformation, disinformation, and hate speech in Nigeria, the President announced the recent approval of funding to launch the UNESCO Media and Information Literacy Institute, MIL, the world’s first such institute, to be based at the National Open University of Nigeria, NOUN, in Abuja.
He explained that the MIL aims to equip Nigerians with the skills to distinguish credible sources from misinformation, promoting critical thinking in an era where fake news, propaganda, and biased reporting can greatly impact public opinion and decision-making.
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