Tinubu directs prompt implementation of Fiscal Policies

The Nigeria president, Bola Tinubu on Tuesday directed the prompt implementation of fiscal policy and tax reforms recommendation of a report on the ‘quick-win achievement’

The Special Adviser to the President on Media and Publicity, Ajuri Ngelale, made this known while briefing journalists in Abuja after the committee met with the president in Abuja on Tuesday.

Recall that earlier in July, Mr Tinubu approved the establishment of a Presidential Committee on Fiscal Policy and Tax Reforms in which he appointed Taiwo Oyedele as the chairman of the committee.

The government explained that the establishment of the committee is in line with Mr Tinubu’s commitment to addressing the challenges and bringing about transformative reforms in fiscal policy and taxation.

However, the committee’s primary objective, according to the Nigerian government, is to enhance revenue collection efficiency, ensure transparent reporting, and promote the effective utilization of tax and other revenues in order to boost citizens’ tax morale, foster a healthy tax culture, and drive voluntary compliance.

In the same vein, on Tuesday, Mr Ngelale said that after listening to a presentation by the committee chairman, the president directed the Special Adviser to the President on Policy Coordination, Hadiza Bala Usman, to liaise with the secretary to the government of the Federation, and the Chairman of the Tax Policy Review Committee to ensure that the recommendations of the committee are immediately implemented across all ministries, departments, and agencies of the federal government of Nigeria.

“This is to ensure that there is effective synergy and to ensure that every institution of the federal government is on the same page with respect to how tax policy will be implemented,” the statement said

Mr Tinubu also made available an opportunity for the recommendations of the tax policy review committee to be made a topmost priority at the next sitting of the Federal Executive Council (FEC) meeting on Monday.

“Mr President will continue to emphasize the importance of ensuring that our tax authorities are not taxing the seed, but are taxing the fruit. And that will continue to be the focus.

“We want to ensure that our citizens are receiving the best public service provision. And that is only going to be possible when we have expanded the tax net to such an extent that we are collecting tax on Gross Domestic Product (GDP), reaching the 18 percent threshold as directed and targeted by His Excellency, Mr President.