How Tinubu’s tax policies’ll boost economic growth
Arabinrin Aderonke Ogunleye- Bello
President Tinubu recently signed four executive bills to lessen numerous taxes and improve the business environment. Nigerians and the economy as a whole stand to gain greatly from these bills.
Tinubu is aware of the plight of Nigerians, and these executive orders will most definitely reduce the tax burden on businesses and the people. By deferring the implementation of tax changes and suspending certain taxes, these bills provide the much-needed financial relief for people at this time.
Moreover, these new executive orders create a more favorable investment. By reducing the tax burden and providing clarity on tax regulations, these measures attract both domestic and foreign investors. Increased investment leads to economic growth, job creation, and overall prosperity for the nation. A more favorable investment also stimulates economic growth and results in the creation of more job opportunities.
As a matter of fact, the suspension of certain taxes on telecommunication services and locally manufactured products contributes to economic stability, and this will encourage economic growth and allow businesses to plan their operations with greater confidence.
For a man like Tinubu practicing a transparent and fair government, the executive orders streamline tax regulations and eliminate multiple taxation, which improves the efficiency of revenue collection. This ensures that taxes are collected fairly and transparently, enabling the government to effectively allocate resources and provide public services with the increased revenue collected through an efficient tax system.
President Tinubu’s recent signing of these executive bills demonstrates a commitment to fostering economic growth, attracting investment, and promoting compliance. With reduced tax burdens, increased stability, enhanced compliance, and improved revenue collection efficiency, these measures are expected to have a positive and lasting impact on businesses, individuals, and the nation at large.
Arabinrin Aderonke is an Award-Winning investigative journalist. Good Governance, Gender Rights, and Peace Advocate. She writes from Abuja.
Aderonke@famefoundationwg.org
