Ogun State Governor, Prince Dapo Abiodun, has congratulated President Bola Tinubu on signing the tax reform bills into law, saying that the bills would benefit Nigerians and assist in the growth of the economy.
Abiodun, who highlighted the expected gains of President Tinubu’s tax reform to include relief for low-income earners, support for small businesses, increased revenue generation, and simplified tax payments, said it was particularly gratifying that the President allowed broad-based consensus by welcoming inputs and criticisms from diverse groups and accommodating people’s concerns.
He added that it is particularly significant that the bills are focused on the fair and equitable distribution of VAT revenue, enabling states to fund more projects independently.
He said: “To all intents and purposes, President Bola Tinubu’s signing into law of four new tax reform bills passed by the National Assembly represents a huge milestone. They are, as the President said, pivotal to Nigeria’s prosperity.
“The bills have been well thought out, grounded in economic research, and reflective of the inputs of diverse groups, including the business community, regional organizations, and the Nigerian Governors Forum, among others.
“The bills represent a crystallization of advocacy over the years for transparency and efficiency in tax administration, linking tax transparency to public fund utilization. This is something all Nigerians should be proud of.
“By streamlining taxation and exempting the poor from undue tax burdens, the bills respond to a major demand for economic growth. They will make it easier to attract investment, enhance the ease of doing business, and incentivize job creation.
“The message, really, is that good times are ahead for all Nigerians.”
