Tinubu Hails Governors' Support for Tax Reform Bills as Key to Nigeria's Economic Revival

President Bola Tinubu has expressed profound gratitude to the Nigeria Governors' Forum (NGF) for their unanimous endorsement of four crucial Tax Reform Bills currently under consideration by the National Assembly. In a statement released on January 17, 2025, by his Special Adviser on Information and Strategy, Bayo Onanuga, Tinubu commended the governors for their “bold leadership and commitment to fostering unity among leaders nationwide.” He emphasized that their consensus transcends regional, ethnic, and political barriers, marking a significant step towards advancing Nigeria’s development.

The President described the recent consultation between the NGF and the Presidential Committee on Tax and Fiscal Policy as “a commendable example of cooperation between the Federal and State governments.” This collaboration is particularly vital as it addresses pressing economic issues through proposed reforms, including a contentious shift to a derivation-based Value Added Tax (VAT) model. Tinubu extended special commendations to Abdulrahman AbdulRazaq, the Kwara State Governor and NGF Chairman, for successfully galvanizing support among his peers for these transformative tax bills aimed at rejuvenating the national economy.

Tinubu noted that the primary aim of these Tax Reform Bills is to promote national interests while enhancing Nigeria's economic competitiveness and attracting both local and foreign investments. “Updating the country’s outdated tax laws is essential to achieving this objective,” he stated.

Furthermore, Tinubu acknowledged the roles of various groups, including the Progressive Governors Forum and Northern Governors Forum, in facilitating bipartisan resolutions regarding the tax bills. He regards governors as vital contributors to nation-building and reaffirmed his commitment to partnering with them to promote economic growth, national harmony, peace, and stability.

In urging other stakeholders to engage in refining the Tax Bills during the legislative process, he called on the National Assembly to expedite their passage. “We must swiftly reap the benefits of these reforms,” he asserted. As discussions continue, Tinubu remains optimistic that these reforms will significantly enhance Nigeria's investment climate and economic resilience.