Nigerian President, Bola Ahmed Tinubu, has insisted that the country is moving in the right direction despite the criticism of his economic policies by political opponents and the hardship being experienced by citizens.
Tinubu, who made the assertion during his maiden presidential media chat on Monday in Lagos, reiterated that though his reforms and policies may not be popular at the moment, they were all aimed at placing the country on the path to economic recovery.
The President, who also spoke on the 2025 national budget proposal of N49.7 trillion, christened ‘restoration of hope’, also called for understanding and cooperation from Nigerians amid the prevailing economic realities.
“Nigeria is moving forward regardless of critics. This is a budget of restoration of hope, and Nigeria is on the path of recovery. We can’t finish the job in one calendar year,” Tinubu declared.
The Nigerian leader who also gave reasons for removing subsides on fuel as well as the controversial tax reforms he initiated, said he has no regret whatsoever in removing the fuel subsidy.
Tinubu stated that removing petrol subsidy was in a bid to save generations to come, noting that the country was already spending its future while giving freebies to neighbouring countries.
He also insisted that there is no going back on the tax reforms bills despite dissenting voices from different sections of the country.
Tinubu noted that the tax reforms were necessitated by the need to eliminate colonial-based assumptions in the nation’s tax environment.
The President stressed that the tax reform he has proposed was pro-poor and aimed at widening the tax net, noting that it was typical for tax reforms to be accompanied by outcries.
“Tax reform is here to say. We cannot just continue to do what we were doing yesteryears in today’s economy.
“We cannot retool this economy with the old broken tools. The essence of the tax reform is to eliminate colonial-based assumptions in our tax environment. Every tax situation without outcry is not a tax.
“You cannot satisfy uniformly the larger community of tax evaders. This tax reform is pro-poor; the vulnerable are not to pay taxes. All we are asking for is to widen the tax net and bake the cake larger so that we can share a larger meal.
“They will still ask for this consultation no matter how long I delay it. The hallmark of a good leader is the ability to do what you have to do at the time it has to be done. That is my philosophy,” President Tinubu said.