President Tinubu Calls for Media Support on Tax Reforms to Drive National Prosperity

In a call for widespread media support, President Bola Tinubu has urged the press to back his administration’s proposed tax reforms, which he considers a crucial step toward securing long-term national wealth and prosperity for Nigerians.

Speaking on Sunday at the 2024 Nigerian Media Merit Awards (NMMA) in Lagos, President Tinubu, represented by the Minister of Information and National Orientation, Mohammed Idris, emphasized the importance of reforming Nigeria’s tax system. He acknowledged that while there may be differing opinions on the specifics of the tax reforms, there is broad agreement on the need to overhaul the current tax administration.

The President explained that the ongoing discussions on tax reforms are vital, and he is confident that they will identify common ground in various areas. He reiterated that his administration’s policies, including the tax reforms, were carefully planned with the objective of advancing Nigeria’s economic recovery. This plan encompasses economic diversification, infrastructure development, human capital enhancement, and fostering inclusive growth.

Among the administration’s key reform initiatives is the overhaul of Nigeria’s tax system, a move President Tinubu describes as fundamental to ensuring sustainable prosperity. The reforms aim to simplify tax structures, reduce the burden on vulnerable citizens, increase state tax revenue, and provide incentives to encourage business growth. These measures are part of the broader framework of the Renewed Hope Agenda, which includes other bold economic steps like subsidy removal, exchange rate unification, and tax restructuring.

Tinubu highlighted the recent record revenue distribution by the Federation Accounts Allocation Committee, which he said would be used to fund critical national initiatives. At the federal level, these funds are already supporting programs such as the consumer credit scheme, student loans, MSME clinics, and major infrastructure projects. State and local governments, he added, are also advancing their own development initiatives in alignment with national goals.

In his address, the President also touched on the government’s efforts to grant financial autonomy to local governments, ensuring resources flow directly to the areas that most impact the people. He called on the media to play an active role in promoting understanding of these reforms, stressing their essential role in countering misinformation and guiding the public with accurate, purposeful information.

Congratulating the winners of the 2024 NMMA Awards, Tinubu reiterated his administration’s commitment to safeguarding press freedoms. He acknowledged the vital role the media plays in the development of Nigeria’s democracy, stressing that while media freedom is guaranteed, it must be exercised responsibly, especially in the digital age where misinformation can spread rapidly.

Furthermore, President Tinubu revealed that his administration has recently approved funding for the establishment of the UNESCO Media and Information Literacy Institute (MIL) in Abuja. This initiative, the first of its kind globally, will operate within the National Open University of Nigeria (NOUN) and is aimed at equipping Nigerians with the tools to critically evaluate information sources, combat fake news, and make informed decisions in an era dominated by digital media.

President Tinubu’s remarks underscored the importance of media collaboration in advancing the country’s tax reform agenda and ensuring that the public receives accurate information to foster national development and unity.