Tinubu sets 30-day tax reform target, UI student makes panel

<p>President Bola Tinubu, on Tuesday, set a 30-day tax reform target.</p>, <p>He also expressed his resolve to break the vicious cycle of overreliance on borrowing for public spending, and the resultant burden of debt servicing.</p>, <p>The President spoke, while inaugurating the Presidential Committee on Fiscal Policy and Tax Reforms, chaired by Taiwo Oyedele, in Abuja on Tuesday.</p>, <p>A 400-level Economics student of the University of Ibadan, Orire Agbaje, was appointed by the President as a member of the presidential committee on fiscal policy and tax reforms.</p>, <p>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.</p>, <p>“Without revenue, government cannot provide adequate social services to the people it is entrusted to serve.</p>, <p>“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.”</p>, <p>Tinubu urged the committee to improve the country’s revenue profile and business environment, as the Federal Government moved to achieve 18 per cent tax-to-GDP ratio within three years.</p>, <p>He directed the committee to achieve its one-year mandate, which was divided into three main areas: fiscal governance, tax reforms, and growth facilitation.</p>, <p>He also directed all government ministries and departments to cooperate fully with the committee, stressing that there would be no excuse for failure.</p>, <p>Tinubu said, “We cannot blame the people for expecting much from us. To whom much is given, much is expected.</p>, <p>“It is even more so when we campaigned on a promise of a better country anchored on our Renewed Hope Agenda. I have committed myself to use every minute I spend in this office to work to improve the quality of life of our people.”</p>, <p>The President said Ni