Nigeria’s President, Bola Tinubu, has said his administration would stop the overreliance on foreign loans for project execution and other public spending.
Tinubu stated this during the inauguration of the Presidential Committee on Fiscal Policy and Tax Reforms on in Abuja and charged the committee to improve Nigeria’s revenue profile and business environment.
He said the Federal Government was making efforts to achieve an 18 percent Tax-to-GDP ratio within three years and directed the committee to achieve its one-year mandate of fiscal governance, tax reforms, and growth facilitation.
Also, Tinubu directed every government ministry and department to cooperate fully with the committee toward realizing its mandate.
He said: “We cannot blame the people for expecting much from us. To whom much is given, much is expected.
“It is even more so when we campaigned on a promise of a better country anchored on our Renewed Hope Agenda.
“I have committed myself to use every minute I spend in this office to work to improve the quality of life of our people.”
“Our aim is to transform the tax system to support sustainable development while achieving a minimum of 18 percent tax-to-GDP ratio within the next three years.
“Without revenue, the government cannot provide adequate social services to the people it is entrusted to serve.
“The committee, in the first instance, is expected to deliver a schedule of quick reforms that can be implemented within 30 days.
“Critical reform measures should be recommended within six months, and full implementation will take place within one calendar year.”
SUPPORT NIGERIAN CANADIAN NEWSPAPER CANADA
If you like our work and want to keep enjoying what we offer, kindly support us by donating to the Nigerian Canadian News by clicking here
Share your thoughts in the comments section below
Do you want to share any news or information with us? If yes, contact the publisher at publisher@test1.nascitest.club
