Today’s reform bill’ll curb poverty, empower nigerians- Presidency

 The Nigerian presidency has affirmed that the current reform bills are designed to alleviate poverty and empower citizens, particularly the disadvantaged. President Bola Tinubu emphasized that these reforms are part of a comprehensive strategy to restore Nigeria’s economy, focusing on economic diversification, human capital development, infrastructure, wealth creation, and inclusive growth .

A key component of these reforms is the tax system overhaul, which aims to streamline multiple taxes, reduce the burden on small businesses, and increase revenue sharing with states. The presidency asserts that these changes will not impoverish any region but are intended to enhance the quality of life for all Nigerians, especially those in vulnerable situations .

In addition to tax reforms, the administration has launched several initiatives under the Renewed Hope Agenda. These include the Conditional Cash Transfer program, which provides monthly grants to approximately 15 million households, and investments in transportation, agriculture, and small and medium-sized enterprises (SMEs) .

Despite these efforts, some northern leaders have expressed concerns that the proposed changes, particularly in the distribution of Value Added Tax (VAT), may disadvantage their regions. The presidency has addressed these concerns, stating that the reforms aim to promote national prosperity and are not intended to harm any section of the country .

Overall, the administration maintains that these reforms are essential steps toward economic growth and poverty reduction, with a commitment to transparency and accountability in their implementation.