Ogun State Governor, Prince Dapo Abiodun, has lauded President Bola Tinubu for signing into law a set of tax reform bills, describing the move as a major step toward economic advancement and a measure that will positively impact Nigerians.
Governor Abiodun outlined the anticipated benefits of the reforms, noting that they will provide relief to low-income earners, support small businesses, enhance revenue generation, and simplify the tax payment process.
He also expressed satisfaction that the President embraced a broad-based consultative approach by incorporating feedback and concerns from a wide range of stakeholders.
He further stressed the importance of the bills’ emphasis on the fair and equitable allocation of value Added Tax (VAT) revenue, which, he said, would empower state governments to undertake more development projects independently.
He said: “To all intents and purposes, President Bola Tinibu’s signing into law of four new taxes 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 organisations, 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 of economic growth. They will make it easier to attract investment, enhance the ease of doing business, and incentive job creation.
“The message, really, is that good times are ahead for all Nigerians,” he concluded.
