President Bola Tinubu has called on the media to support his administration’s proposed tax reforms, emphasizing that they are essential for building lasting national wealth and prosperity for all Nigerians.
Speaking through the Minister of Information and National Orientation, Mohammed Idris, the President made the statement on Sunday evening at the 2024 Nigerian Media Merit Awards held at the Muson Centre in Lagos.
President Tinubu acknowledged that while there may be differing opinions on the specifics of the proposed tax reforms, there is broad national agreement on the need for a comprehensive overhaul of the current tax administration system. He expressed confidence that the ongoing discussions on the reforms would lead to areas of consensus.
“I will say with every sense of conviction that our policies are deliberate and well-thought-out. We are headed toward the restoration of Nigeria, on a path requiring a comprehensive approach that addresses economic diversification, human capital development, infrastructure development, wealth creation, and inclusive growth.
“Among our various landmark reforms is the one focused on tax, by far one of the most profound steps necessary for setting Nigeria onto the path of enduring national wealth and prosperity for all our people. There is a consensus that the tax administration system in Nigeria requires reform. We may not all agree on every detail of the required reform, but there will be many areas of convergence,” he said,
President Tinubu emphasized that the tax bills currently before the National Assembly are designed to reduce the number of taxes, lighten the burden on vulnerable Nigerians, increase the share of taxes allocated to states, and promote business growth through targeted incentives.
He explained that the broader goals of the reforms under the Renewed Hope Agenda—including subsidy removal, unification of multiple exchange rates, and tax restructuring—are carefully planned, bold, yet essential measures. These steps are intended to release resources that can be redirected toward fostering economic growth, infrastructure development, and the advancement of human capital.
“Just days ago, the Federation Accounts Allocation Committee recorded the highest-ever revenue distribution figure in the history of our country. These are the much-needed resources being freed up for investment in critical areas of the economy.
“At the federal level, these revenues are already financing impactful initiatives like the consumer credit scheme, students loan fund, presidential grants & loans scheme, the MSME clinics, 3 million technical talent programme (3MTT), presidential CNG initiative, massive road infrastructure projects, among many others. In the spirit of our federation, the various state and local governments also have their policies and programmes, meant to complement ours,” he said.
President Tinubu highlighted that, alongside the increased revenues being received and distributed monthly, significant efforts have been made to ensure financial autonomy for local governments, the tier of government closest to the people.
The President urged the media to play a key role in amplifying the narratives around these reforms to foster better public understanding. He emphasized the media’s critical responsibility in combating misinformation and providing Nigerians with accurate and purposeful information.
President Tinubu also congratulated the winners of the 2024 NNMA Awards and their respective organizations, reaffirming his administration’s commitment to upholding the fundamental rights of the press.
“My administration is committed to ensuring that the fundamental rights of the press are guaranteed. It is in the interest of Nigeria and her fledging democracy that the media and civic spaces are protected at all times. This guarantee of media freedom comes with the associated obligation to exercise responsibility in the exercise of that freedom, especially in this digital age with its unstoppable viral mechanisms that sadly appear to favour falsehoods more than truth,” he stated.
President Tinubu expressed his appreciation for the courage and determination of the Nigerian media in shaping and defending the nation’s cherished democracy. He acknowledged that Nigerian journalists, both at home and abroad, have consistently distinguished themselves at all levels of the profession, earning prestigious awards and global recognition.
As part of his administration’s commitment to tackling misinformation, disinformation, and hate speech in Nigeria, the President revealed that he had recently approved funding for the establishment of the UNESCO Media and Information Literacy Institute (MIL) — the first of its kind in the world. The institute will operate within the National Open University of Nigeria (NOUN) in Abuja.
The President explained that the MIL aims to equip Nigerians with the skills necessary to distinguish between credible sources and misinformation, promoting critical thinking in an era where fake news, propaganda, and biased reporting can significantly impact public opinion and decision-making.
