Tax Reforms Will Improve Lives, Not Impoverish Nigerians, Says Shettima

Vice President Kashim Shettima, on Wednesday in Abuja, said the implementation of new tax reforms will eliminate the burden of multiple levies and charges on small businesses and low-income earners in Nigeria, thereby helping to reduce poverty. 

Shettima noted that the planning and implementation of the tax reforms were carefully designed to improve livelihoods, contrary to the claims of political detractors.

The Vice President spoke on behalf of President Bola Tinubu at the interfaith breaking of fast for Ramadan and Lent held at the State House.

Attendees included members of the Federal Executive Council, the Central Bank governor, special advisers, senior special assistants and heads of agencies and parastatals.

Shettima urged them all to remain champions of the government’s reforms.

He said the government is genuinely concerned about Nigerians’ plight and is releasing policy instruments to lift many out of poverty without adding to their burdens.

“The same people who are shouting hoarse that the tax reform is meant to pulverise further and pauperise the poor are far from the truth, but we have to go out and tell the truth to the people.

“We have to educate them. We have to mount the pulpits and take our government to the Nigerian people and tell them the truth,” he said.

Shettima highlighted some of the gains of the economic reforms, including an increase in the nation’s foreign exchange reserves, streamlining of the exchange rates and the removal of a subsidy that had favoured only a few for many years.

He said President Tinubu should be commended for the courage to address the issues that past administrations avoided.

The Vice President explained that the removal of the fuel subsidy was not mentioned in the President’s 2023 inaugural speech. Still, the President had to announce it, knowing that the system was draining the economy of resources for development.

“Three years down the road, the economy has bounced back,’’ he added.

“On behalf of the President, I want to thank you all for comradeship, support and partnership,’’ he stated.

Shettima advised government officials to be more active in sharing facts about the administration’s achievements and to be ready to counter falsehoods propagated by the opposition parties.