President Bola Ahmed Tinubu has expressed optimism that the newly enacted tax laws will create opportunities and bring prosperity to the nation.
The president made this remark on Tuesday during the commissioning of the newly built headquarters of the Nigeria Revenue Service (NRS).
A statement released by Bayo Onanuga, a presidential spokesman, said the tax laws were enacted to be people friendly.
“President Tinubu emphasised that the new tax system is designed to be people-centred and investment-friendly, thereby advancing the nation’s development goals,” Onanuga wrote.
Onanuga explained that the president described the repealed tax laws as “colonial-era”, saying they impoverished Nigerians through fragmentation, multiplicity, and inconsistencies, and assured that the new reforms will deliver greater prosperity and inclusivity.
According to Onanuga, the president added further: “the reforms are designed to simplify our system, eliminate distortions and create a fair, transparent and investment-friendly environment. Our direction is clear: to have a revenue system that rewards enterprise, supports growth, and ensures that every contribution to the national cause is matched by feasible value for the people.”
