President Bola Tinubu has reiterated his administration’s commitment to tax reforms, describing them as vital for modernizing Nigeria’s economy. Speaking during a presidential media chat on Monday, Tinubu stressed the need to replace outdated colonial-era tax systems with reforms that align with contemporary economic realities.

“Tax reform is here to stay. We cannot continue to use old and broken methods in today’s economy,” the president said, emphasizing that the reforms aim to eliminate colonial-based assumptions in Nigeria’s tax structure.

Tinubu dismissed calls for prolonged consultations on the tax reform bills, arguing that delays would not resolve persistent demands for changes. He assured Nigerians that the reforms are “pro-poor,” designed to exempt vulnerable groups from tax burdens.

“The hallmark of a good leader is the ability to do what you have to do at the time it ought to be done. That is my philosophy,” Tinubu declared.

Regarding the controversial proposed value-added tax (VAT) sharing formula, the president expressed willingness to engage in discussions. “Tax matters are subjects of debates, reviews, and negotiations until you reach a consensus. I don’t mind cutting edges. I will,” he stated.

On October 3, Tinubu forwarded several tax reform bills to the National Assembly, including the Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service Establishment Bill, and Joint Revenue Board Establishment Bill.

The proposed VAT-sharing formula has faced strong opposition, particularly from stakeholders in the northern region. Despite this, Tinubu remains resolute, describing the reforms as necessary for creating a fairer and more efficient tax system.