President BOLA TINUBU on Tuesday in Abuja received the ‘Quick Win Report’ on fiscal policy and tax reforms from the Committee tasked with improving the nation’s revenue profile and business environment.
Responding to a presentation by the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, TAIWO OYEDELE, the President commended their work and assured them of his support for the review and implementation of key recommendations.
President TINUBU said Charting the critical path forward for Nigeria’s economic recovery is crucial while thanking the delegation.
President TINUBU granted the request of the Committee to address a meeting of the Federal Executive Council, FEC and brief cabinet members of their work and expected outcomes to facilitate economic growth.
The President however directed the Special Adviser on Policy Coordination,HADIZA BALA USMAN to coordinate with the relevant government officials for the session.
In his remarks, the Acting Chairman of the Federal Inland Revenue Service, FIRS, ZACCH ADEDEJI pledged to ensure the implementation of the recommendations of the Committee, as they may apply, pending the approval of the President.
ADEDEJI declared that beyond supporting the fiscal and tax reforms, the FIRS will explore opportunities to diversify the nation’s revenue sources, as the historical over-reliance on oil has made the economy vulnerable.
Nigeria’s fiscal policy serves as the foundation of economic stability.
It dictates how the government collects, manages and allocates resources for the betterment of our people.
A well-developed fiscal policy is crucial for provision of infrastructure, healthcare, education and social services to our growing population and Tax reforms are an integral part of a robust fiscal policy.
In his prayers to the President, OYEDELE , among others, called for an emergency economic intervention bill (Executive Bill) and the issuance of Presidential Executive Orders to address the duplication of functions across the public service, and to ensure prudent public financial management in a bid to optimize value from government assets and natural resources.