President Bola Tinubu Tuesday said the four proposed tax bills at the National Assembly is a good example of collaboration needed to deepen the nation’s democracy.
Disclosing this at the 75th posthumous birthday of late Senator Abiola Ajimobi and the 7th Annual roundtable by Senator Abiola Ajimobi Foundation (SAAF) with the Institute for Peace and Strategic Studies, University of Ibadan, themed: “Legislative Oversight and Accountability in Nigeria:Challenges and Prospects”, Tinubu said the bills are to streamline tax administration, enhance revenue generation, and promote equitable resource allocation.
Represented by director general, Nigeria Institute of Peace and Conflict Resolution (IPCR), Dr Joseph Ochoku, the president noted that the ongoing deliberation on the proposed tax reforms are pivotal to his administration’s quest of building an inclusive, prosperous, and sustainable Nigeria and making the country competitive to attract foreign direct investment.
President Tinubu added that as democrats, he is committed to the separation of powers and the legislature’s responsibility in carrying out oversight functions and the need to forge a consensus is at the heart of his sustained engagements since the inauguration of the Renewed Hope Administration on 29th May, 2023.
He said: “The need to forge a consensus is at the heart of our sustained engagements since the inauguration of the Renewed Hope Administration on 29th May 2023. As democrats, we are committed to the separation of powers and the legislature’s responsibility in carrying out oversight functions,” he said.
President Tinubu added, “These reforms, when enacted, promise to streamline tax administration, enhance revenue generation and promote equitable resource allocation. They are pivotal to our mission of building an inclusive, prosperous, and sustainable Nigeria and making our country competitive to attract foreign direct investment.
“The commitment of our administration to open government, constructive scrutiny, accountability, and transparency has positioned us to strengthen the anti-graft institutions, especially the Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices and Other Offences Commission (ICPC), the Code of Conduct Bureau (CCB), as well as institutionalizing effective mechanisms for enhanced institutional collaboration.
“My administration is determined to forge a harmonious relationship between the executive and legislative arms of government. Despite occasional tensions, we recognise that effective governance is a shared responsibility. Collaboration, not confrontation, must define our interactions as we work towards the collective goal of improving the lives of our people.
“In any thriving democracy, legislative oversight is the backbone of governance. Through this mechanism, the legislature ensures the accountability of the executive arm and evaluates policies, thereby maintaining public trust. However, this process is challenging, particularly in a diverse and dynamic nation like Nigeria.”
