President Bola Ahmed Tinubu has assured Nigerians that the proposed new tax law, expected to take effect in 2026, will bring significant relief to the poor, low-income earners, and small business owners across the country.
According to the President, the tax reforms are designed to ease the financial burden on vulnerable citizens while promoting fairness and economic growth. He emphasized that the new framework will prioritize social equity, ensuring that those with lower incomes are protected from excessive taxation.
Tinubu also noted that small and medium-scale enterprises (SMEs) would benefit from simplified tax structures aimed at encouraging business growth, job creation, and increased productivity.
The President urged Nigerians to remain patient, stressing that the reforms are part of broader efforts to strengthen the economy, expand the tax base responsibly, and improve public service delivery.
He reaffirmed his administration’s commitment to implementing policies that support economic stability while cushioning the effects of ongoing economic reforms on ordinary citizens.
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