16 hours ago
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The Bauchi state Commissioner for Finance and Economic Development, Yakubu Adamu, has stressed the need for the federal government to embark on a mass campaign on its recent tax reforms for acceptance by Nigerians.
He said this while commenting on the concern of Nigerians about the tax reforms at the 2024 Conference of the National Council on Finance and Economic Development (NACOFED) with the theme, “Fostering Economic Growth in Challenging Times: Strategies for Policies and Partnership for Fiscal Sustainability & National Development” held at the Government House, Bauchi.
Adamu, a seasoned bank administrator, said, “As we speak, Nigerians are still suffering from the fuel subsidy removal, therefore the federal government should have conducted research before coming up with the tax reforms.”
He said tax reform “is key to attracting foreign direct investment, supporting small and medium businesses as well as providing job opportunities,” and regretted that the disadvantage of tax reform “will increase the tax burden on Nigerians.”
“In all honesty, the Nigeria’s tax reform has advantage and disadvantage and our concern is the inability of the federal government to conduct research on the current needs of the masses and engaging critical stakeholders in the process of coming up with the tax reform.
Adamu enumerated some of the friendly economic policies of Governor Bala Mohammed’s administration and assured partners that Bauchi state government “remains open for partnerships and collaborations geared towards economic development for the best interest of the state and its people.”
