President Bola Ahmed Tinubu has called on the media to support his administration’s proposed tax reforms, describing them as essential for building lasting national wealth and prosperity for all Nigerians.
The Nigerian leader made the call at the 2024 Nigerian Media Merit Awards held at the Muson Centre, Lagos, Nigeria.
Represented by Nigeria’s Minister of Information and National Orientation, Mohammed Idris, the President acknowledged differing opinions on the reforms but emphasised a shared national understanding of the need for a comprehensive overhaul of Nigeria’s tax administration system.
“We may not all agree on every detail of the required reform, but there will be many areas of convergence,” he stated, expressing optimism about the ongoing dialogue on the subject.
He described the reforms as “deliberate and well-thought-out” policies aimed at economic diversification, infrastructure development, wealth creation, and inclusive growth.
Streamlining Taxes
President Tinubu explained that the tax bills before the National Assembly seek to reduce the number of taxes, ease financial pressures on vulnerable citizens, and boost business growth through targeted incentives.
These efforts are part of his administration’s broader Renewed Hope Agenda, which includes the removal of fuel subsidies, unification of exchange rates, and tax restructuring.
The president stated that the reforms are designed to free up resources and redirect them toward critical investments in economic growth, infrastructure, and human capital development.
“These are the much-needed resources being freed up for investment in critical areas of the economy,” he said, adding that the Federation Accounts Allocation Committee recently recorded the highest-ever revenue distribution in Nigeria’s history.
Investing in the Future
Highlighting the allocation of resources, President Tinubu noted that the increased revenues are funding impactful federal initiatives such as the Consumer Credit Scheme, Student Loan Fund, Presidential Grants and Loans Scheme, and the 3 Million Technical Talent Programme (3MTT).
At the state and local levels, these revenues complement other government policies aimed at enhancing governance and economic opportunities.
The President also reaffirmed his administration’s commitment to ensuring financial autonomy for local governments, emphasizing their crucial role in grassroots development.
Role of the Media
President Tinubu urged the media to play a pivotal role in amplifying public awareness of the reforms. He stressed the importance of countering misinformation and providing Nigerians with accurate, purpose-driven narratives to foster better understanding.
“My administration is committed to ensuring that the fundamental rights of the press are guaranteed. It is in the interest of Nigeria and her fledgling democracy that the media and civic spaces are protected at all times.
“This guarantee of media freedom comes with the associated obligation to exercise responsibility in the exercise of that freedom, especially in this digital age with its unstoppable viral mechanisms that sadly appear to favour falsehoods more than truth,” he cautioned.
The President also announced funding for the UNESCO Media and Information Literacy Institute (MIL), the first of its kind, to operate within the National Open University of Nigeria (NOUN) in Abuja.
This initiative aims to combat misinformation and hate speech while equipping Nigerians with critical thinking skills to identify credible information sources.
Celebrating Journalistic Excellence
The high-profile event recognised exceptional journalists across 46 award categories. Notably, Olufunke Fayemi from Voice of Nigeria received two prestigious awards: Radio Production of the Year and Radio Programme of the Year.
President Tinubu congratulated the winners of the awards and commended the Nigerian media for its courage and determination in nurturing the country’s democracy. He urged media professionals to remain pivotal in strengthening Nigeria’s democracy.
He highlighted the global recognition of Nigerian journalists for their excellence in the profession and reiterated his administration’s commitment to protecting media freedom.
The president remarked that Nigerian journalists, at home and abroad, continue to distinguish themselves, winning accolades and making significant contributions to the global media landscape.
The 32nd Nigeria Media Merit Award (NMMA) ceremony was hosted by Dr. Dayo Duyile, Chairman of the NMMA Board of Trustees.
In his remarks, Dr. Duyile celebrated the annual gathering of journalists from across the print and electronic media.
“This is the 32nd anniversary of NMMA, and we hope to move from one state to another to celebrate this event,” he said.
Dignitaries in attendance included the Directors-General of the National Broadcasting Commission (NBC), Nigerian Television Authority (NTA), and Voice of Nigeria (VON), all underscoring the significance of the media in shaping the nation’s future
