President Bola Tinubu discusses the significance of his administration's reforms at the 2024 Nigerian Media Merit Awards. Emphasizing tax system overhaul, infrastructure development, and human capital growth, he outlines policies aimed at economic diversification, inclusive growth, and prosperity for all Nigerians.
President Bola Tinubu emphasized the importance of his administration’s reforms in fostering long-term national wealth and prosperity for Nigerians. In a speech delivered by Minister of Information, Mohammed Idris, at the 2024 Nigerian Media Merit Awards in Lagos, Tinubu outlined his commitment to economic transformation. He highlighted the need for comprehensive reforms, particularly in the tax system, which he described as crucial for diversifying the economy, promoting human capital development, and creating inclusive growth.
Tinubu acknowledged differing opinions on the specifics of the proposed tax reforms but stressed the national consensus on the necessity of overhauling Nigeria's tax system. His administration, he said, is committed to streamlining taxes, reducing the burden on vulnerable Nigerians, and ensuring a greater share of tax revenue reaches the states.
Noting the recent record-breaking revenue distribution by the Federation Accounts Allocation Committee, Tinubu pointed out that these funds are being used for vital projects such as the consumer credit scheme, student loan fund, and various infrastructure initiatives. He also mentioned the creation of programs like the 3 Million Technical Talent Program (3MTP) and the presidential CNG initiative, all of which are intended to drive growth and development. Tinubu concluded by calling for continued collaboration between federal, state, and local governments to ensure prosperity for all Nigerians.
