A chieftain of the All Progressives Congress, APC, Dr. Abayomi Nurain Mumuni, has asserted that the tax reform initiative proposed by President Bola Tinubu is designed to boost revenue generation and create more employment opportunities across Nigeria.
In a statement released through his Media Aide, Rasheed Abubakar, Mumuni stressed the significance of the four tax reform bills recently submitted to the National Assembly by the President.
He expressed confidence that, once enacted, these bills would enhance the country’s fiscal framework and promote economic growth.
Mumuni stated, "The tax reform aims to broaden the tax base and improve compliance, leading to increased government revenue for public services and infrastructure."
He further explained that "by encouraging investments and reducing reliance on oil revenues, the bill supports diversification into sectors like agriculture, technology, and manufacturing."
Mumuni noted that, "a more transparent and predictable tax system can make Nigeria more attractive to foreign investors, fostering economic growth."
Additionally, he highlighted that "increased business activity and investment can lead to job creation, reducing unemployment and poverty levels."
The APC chieftain added, "With higher tax revenue, the government can better fund essential services such as education, healthcare, and infrastructure development."
He also pointed out that the bill may include provisions to "simplify tax processes for SMEs, encouraging entrepreneurship and innovation."
Mumuni emphasised that the reforms could "enhance the efficiency and effectiveness of tax collection mechanisms, reducing corruption and leakages."
He further stated that, "strengthening tax policies can promote fiscal discipline, helping the government manage its budgets more effectively."
"Overall, these reforms aim to create a more favorable economic environment in Nigeria, benefiting both the government and its citizens," Mumuni stated.
No comments:
Post a Comment