Shettima defends tax reform, pledges economic relief for citizens

By Lawrence Agbo

Vice President Kashim Shettima has backed the federal government’s tax reform strategy, claiming that it will enhance Nigerians’ quality of life and relieve companies and low-income earners of the burden of multiple levies.

Shettima claimed that rather than making the financial state of ordinary citizens worse, the measures were carefully planned to promote economic growth and reduce poverty.

He made the statement on Wednesday night, where he represented President Bola Tinubu during an interfaith breaking of fast for Ramadan and Lent at the State House in Abuja.

Federal Executive Council members, the governor of Nigeria’s Central Bank, presidential advisers, senior special assistants, and leaders of government agencies were present at the occasion.

The Vice President claims that the tax reforms will make Nigeria’s tax system simpler and less burdensome for people and small enterprises.

“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,” he said.

“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.”

Shettima urged stakeholders and government officials to actively inform Nigerians of the goals and advantages of the administration’s initiatives.

He pointed out that the government is still concerned about the well-being of its people and is putting policies into place to help many individuals escape poverty without adding to their financial responsibilities.

Shettima highlighted improvements in the country’s foreign exchange reserves, the harmonisation of exchange rates, and the elimination of fuel subsidies as some benefits of the administration’s economic reforms.

He claimed that President Tinubu demonstrated courage by implementing policies that earlier administrations had shied away from.

The Vice President clarified that although the President’s 2023 inaugural speech did not include the abolition of fuel subsidies, it became essential because the subsidy was draining resources required for national development.

He claims that since the policy was implemented, the economy has improved significantly.

“Three years down the road, the economy has bounced back,” he said.