Tinubu commends governors for backing tax reform bills

President Bola Tinubu, on Friday, thanked members of the Nigeria Governors’ Forum following their unanimous endorsement of the four Tax Reform Bills currently under consideration by the National Assembly.

He lauded the governors for “their bold leadership and commitment to fostering unity among leaders nationwide” Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, disclosed in a statement on Friday.

The statement is titled ‘President Tinubu commends Nigeria governors for supporting tax reform initiatives.’

Tinubu said the consensus transcends regional, ethnic and political barriers to advance Nigeria’s development.

PUNCH Online reports that the governors on Thursday endorsed Tinubu’s proposed tax reform bills, including the contentious shift to a derivation-based VAT model.

The President described Thursday’s 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.”

He extended special commendations to the Chairman of the Governors’ Forum, the Kwara State Governor, Abdulrahman AbdulRazaq, for successfully galvanising support among his peers for these transformative tax bills to rejuvenate the national economy and enhance Nigeria’s investment climate.

He also commended the Progressive Governors Forum, the Northern Governors Forum, and all other groups that made the bipartisan resolution of the controversy stirred by the tax bills possible.

Tinubu noted that the primary aim of the Tax Reform Bills, which is pro-poor, is 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He argued that updating the country’s outdated tax laws is essential to this endeavour.

“The President notes that the dialogue between the NGF and the Presidential Committee on Tax and Fiscal Policy Reform highlights the power of constructive conversation in resolving differences.

“President Tinubu regards the governors as vital contributors to nation-building and affirms his commitment to partnering with them to promote economic growth, national harmony, peace, and stability,” the statement read.

The President also encouraged other stakeholders with ideas and suggestions for refining the Tax Bills to engage with the ongoing legislative process at the National Assembly.

Tinubu urged the National Assembly to expedite the legislative process for these crucial bills so that the country can swiftly reap the benefits of the reforms.