By Arabinrin Aderonke
Nigeria, Nigeria, my country! What makes a nation truly great? Is it natural resources, a large population, or something more? Is that something rooted in structure, discipline, and long-term planning? For many years, you can all agree that we depended on oil like a child clinging to a mother’s wrapper, ignoring the loopholes in our system.
Many people then wondered why our current president was so determined to contest for the presidency. What was he looking for? What did he see that others did not? We should be getting a glimpse of the answer now. This is the same man, President Bola Ahmed Tinubu, who knew this reality too well. We had seen it firsthand in Lagos and how he had turned things around with different reforms.
When President Bola Ahmed Tinubu assumed office in 2023, he inherited a country weighed down by problems. But unlike others before him, he refused to continue with the same ineffective policies. Instead, he embarked on bold and sometimes difficult reforms aimed at fixing the economy, attracting investors, and improving the lives of everyday Nigerians.
President Tinubu has implemented initiatives that have left many Nigerians saying, “Wow.” Just last week, he reaffirmed his commitment to listening to the youth, proving that his leadership is about action, not just words. His tax reforms are restructuring the system to ensure fairness and efficiency. The removal of fuel subsidies, though difficult, is freeing up funds for critical sectors like education, healthcare, and infrastructure. Workers now have a better wage, students can access education without financial burdens (through the Nigerian Education Loan Fund (NELFUND), and businesses are gaining confidence as the naira stabilizes. Roads are being built, power supply is improving, and opportunities for women and youth are expanding.
Now, let’s talk about the Tax Reform Bills. The good news is that the House of Representatives has approved four tax reform bills introduced by President Tinubu to make Nigeria’s tax system work better for everyone. First proposed in October 2024, these bills have been adjusted to ensure fairness while boosting the economy. One big change is that VAT will remain at 7.5% instead of increasing to 12.5% as earlier suggested. Workers earning minimum wage no longer have to pay personal income tax, giving relief to low-income earners. The way VAT revenue is shared has also been adjusted so states get a fairer share. In the petroleum sector, tax rules have been revised to attract investors while ensuring Nigeria still earns its fair portion. To stop multinational companies from avoiding taxes, a global minimum tax has been introduced, and small businesses now have a higher tax-free threshold to help them grow.
These reforms show the Renewed Hope Agenda’s commitment to a tax system that is fair, simple, and good for business. Now, all that’s left is Senate approval and the President’s signature before these changes become law.
President Tinubu is building the foundation for a stronger and more prosperous Nigeria. His tax reforms are repairing a broken system, his economic policies are bringing stability, and his infrastructure projects are creating jobs and improving lives.
JAGABAN sees opportunities where others see problems. His leadership is focused on building a Nigeria that grows through innovation, better infrastructure, and fairness for all. He knows real change takes time and effort, and by acting decisively, he is creating a stronger future for Nigerians.
The journey to prosperity is not an easy one, but one thing is sure. Nigeria is finally on the right path. As these reforms take root, the impact will be felt in homes, businesses, and communities across the country. A Renewed Hope Era is indeed here, and it’s a good one for Nigerians.
Arabinrin Aderonke Atoyebi is the technical assistant on broadcast media to the executive chairman of the Federal Inland Revenue Service
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