Tinubu’s tax reforms will alleviate burden on vulnerable Nigerians – Minister

Mr Idris said the tax reforms are foundational to Nigeria’s long-term prosperity.

President Bola Tinubu’s tax reform efforts will help streamline Nigeria’s tax laws and reduce the financial burden on the most vulnerable Nigeria, the Minister of Information and National Orientation, Mohammed Idris, has said.

Mr Idris said this during the 2024 Annual General Conference of the International Press Institute (IPI) Nigeria, held in Abuja on Wednesday.

The event, keynoted by a veteran broadcaster, lawyer and former Director-General of the Nigeria Television Authority, Tonnie Iredia, a professor, drew big names in the Nigerian media industry, representatives of law enforcement agencies, including the Director-General of the State Security Service (SSS), Adeola Ajayi, former Minister of Information, Lai Mohammed, and others.

The conference was themed around democracy, press freedom, and Nigeria’s civic space.

“One of the most topical examples right now is the tax reform initiative, which will go a long way towards simplifying Nigeria’s existing tax regimes and making compliance easier, while also reducing the tax burden on the most vulnerable Nigerians. A recurring highlight of the reform is the introduction of several new tax exemptions that will benefit various categories of individuals and businesses,” Mr Idris told the gathering on Wednesday.

The minister also emphasised how the reforms complement the administration’s broader macroeconomic initiatives, which he claimed have redirected resources previously lost to wasteful subsidy programmes into critical sectors like infrastructure, education, and social investments.

According to Mr Idris, these changes are foundational to Nigeria’s long-term prosperity.

“President Tinubu’s vision is that no one will be left behind in the new Nigeria that is emerging under his watch,” Mr Idris added. “This is what the Renewed Hope Agenda is all about.”

He called on journalists to amplify the administration’s efforts, which he described as the most significant economic reforms since the return to democratic rule in 1999.

Controversy over tax reform bills

The Tinubu administration is pushing for consequential tax reforms through four now before the National Assembly.

The bills are the Joint Revenue Board of Nigeria (Establishment) Bill 2024, the Nigeria Revenue Service (Establishment) Bill 2024, the Nigeria Tax Administration Bill 2024, and the Nigeria Tax Bill 2024.

The bills have drawn criticism particularly from Northern leaders have argued that the reforms could disproportionately favour specific regions and might threaten the operations of key government agencies like TETFUND and NITDA.

However, presidential spokesperson Bayo Onanuga refuted these claims and reassured Nigerians that the agencies would not be eliminated but would transition to alternative funding mechanisms.

“Contrary to the lies being peddled, the bills do not suggest that NASENI, TETFUND, and NITDA will cease to exist in 2029,” Mr Onanuga stated. “The proposal seeks to consolidate taxes into one, which will be shared with key agencies in a phased manner until 2030.”

Beyond tax reforms

Beyond tax reforms, Mr Idris said, the Tinubu administration plans a comprehensive blueprint for economic diversification, human capital development, and inclusive growth.

He also reflected on Nigeria’s democratic journey since 1999.

He said press freedom is a cornerstone of the country’s democratic resilience.

“But beyond the professional talent, the greatest asset of the Nigerian press has been the boldness, the fearlessness in the face of intimidation, the irrepressible capacity to speak truth to power regardless of the cost,” he noted.

“This audacity helped pave the way for our independence from colonial Britain, all those decades ago. The same fearlessness helped truncate military rule and usher in the 4th republic. And since the start of the 4th republic, none of those important attributes have diminished. You can see this in the way that the press continues to hold successive governments to account and to rally around their own in difficult circumstances.”

On media freedom, Mr Idris said that Nigeria has enjoyed significant openness since 1999, despite occasional challenges.

He reaffirmed the government’s commitment to protecting press freedom and the civic space.

“The President is a firm believer in media freedom and the protection of Nigeria’s civic space. Not only has he been a media entrepreneur himself, but he has also earned himself a place in history as one of the champions of the pro-democracy movement that saw the permanent end of military rule in Nigeria,” he stated.

The Minister urged stakeholders to foster a civic space that accommodates diverse opinions while holding institutions accountable.

“These truths can and must all coexist if we want to forge a stronger democracy as the foundation for the strong and prosperous Nigeria of our dreams,” he added.