President Bola Tinubu, on Tuesday, set a 30-day tax reform target.
He also expressed his resolve to break the vicious cycle of overreliance on borrowing for public spending, and the resultant burden of debt servicing.
The President spoke, while inaugurating the Presidential Committee on Fiscal Policy and Tax Reforms, chaired by Taiwo Oyedele, in Abuja on Tuesday.
President Bola Tinubu also appointed a 400-level student of the department of Economics, University of Ibadan, Orire Agbaje, as member of the presidential committee on Fiscal Policy and Tax Reforms.
According to Special Assistant to the President on social media, Olusegun, the inauguration took place today at the presidential Villa in Abuja.
“Tinubu met Miss Orire Agbaje, a 400 level Economics student of the University of Ibadan who is the President of the Nigerian Universities Tax Club and a member of the just inaugurated Presidential Committee on Fiscal Policy and Tax Reforms,” he tweeted.
Tinubu said, “Our aim is to transform the tax system to support sustainable development while achieving a minimum of 18 per cent tax-to-GDP ratio within the next three years.
“Without revenue, government cannot provide adequate social services to the people it is entrusted to serve.
“The committee, in the first instance, is expected to deliver a schedule of quick reforms that can be implemented within 30 days. Critical reform measures should be recommended within six months, and full implementation will take place within one calendar year.”