Tinubu’s Tax Policy Shift Promises Economic Growth, Fiscal Stability- Rep Oniugbo

The member representing South-East on the Governing Board of the North-East Development Commission (NEDC) and former federal lawmaker, Rep. Sir Sam Onuigbo has commended President Bola Ahmed Tinubu for signing into law four tax-related bills, describing the move as a decisive step toward ensuring Nigeria’s economic stability and long-term prosperity.

Onuigbo, in a statement made available to newsmen on Wednesday, hailed the President’s boldness and vision, noting that the new laws mark the first coordinated attempt by the Federal Government to harmonise tax administration and revenue generation in a manner that reflects global best practices.

According to him, “This is the first time in the history of this great country that a bold and courageous effort has been taken to give legislative fresh breath to the issues of taxation and revenue generation. President Tinubu has demonstrated his depth of knowledge and global experience as a trained international auditor.”

The four bills recently signed into law include the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill. All four had earlier been passed by the National Assembly following extensive consultations and deliberations.

Onuigbo, a respected voice on economic and environmental matters, praised both the Executive and the Legislature for the seamless collaboration that made the legal reforms possible, stating that their synergy has set Nigeria on a promising course of fiscal reorganisation.

“As the President gives his assent to these four ambitious tax-related and revenue management bills, I can boldly say that the journey to economic prosperity, as envisioned in the Renewed Hope Agenda, has truly begun,” he said.

He also noted that next to the fiscal autonomy of local governments, the enactment of these tax laws represents another strategic victory for the Tinubu administration in laying a solid foundation for political stability and economic transformation.

“President Tinubu has scored another bull’s eye by providing a legal framework that not only improves tax compliance but also promotes accountability, transparency, and efficiency in our revenue collection systems,” Onuigbo stated.

He further urged Nigerians to remain patient and supportive of the President’s reforms, assuring them that the long-term benefits of the policies will outweigh the temporary discomforts they may currently experience.

“Nigerians can now sit back and see that, indeed, a well-trained and experienced auditor is at the helm of affairs. President Tinubu knows how to fix the bolts and joints in the economic management of Nigeria. One may describe this moment as the beginning of the country’s economic independence,” he asserted.

Onuigbo acknowledged the National Assembly for what he described as a “painstaking and patriotic effort” in reviewing and passing the bills. He also commended Nigerians for their understanding during the rigorous consultations that preceded the passage of the bills.

“I must commend Nigerians for their maturity and cooperation. Their willingness to engage and offer input during the consultative stages helped to shape the bills into meaningful, inclusive, and forward-looking legislation,” he said.

He urged the policymakers and stakeholders to ensure effective implementation of the new laws, noting that the success of the legislative reforms depends on how well they are executed in practice. “We now have the laws. The next task is to implement them with integrity, discipline, and national interest at heart,” he added.

Source: Legit.ng