Bauchi State Commissioner for Finance and Economic Development, Yakubu Adamu PhD, stressed on Tuesday the need for the Federal Government to embark on a mass sensitisation campaign on its recent tax reforms for possible acceptance by Nigerians.
He made this known while commenting on the concern of Nigerians about tax reform at the 2024 Conference of the National Council on Finance and Economic Development (NACOFED) with the theme “Fostering Economic Growth in Challenging Times: Strategies for Policies and Partnership for Fiscal Sustainability & National Development held at the Government House, Bauchi.
Yakubu Adamu, a seasoned bank administrator, said that, “As we speak, Nigerians are still suffering from the fuel subsidy removal; therefore, the Federal Government should have conducted research before coming up with the tax reform.”
He pointed out that tax reform is key to attracting foreign direct investment, supporting small and medium businesses, and providing job opportunities, and regretted that the disadvantage of tax reform will increase the tax burden on Nigerians.
According to him, “In all honesty, Nigeria’s tax reform has advantages and disadvantages, and our concern is the inability of the Federal Government to conduct research on the current needs of the masses and engage critical stakeholders in the process of coming up with the tax reform.”
The Bauchi Finance Commissioner observed that the current economic crisis in the country requires the partnership and support of all and therefore suggested the need for the authorities at the national level to make use of the NACOFED’s strategies for fiscal sustainability and economic development.
Yakubu Adamu used the medium to enumerate some of the friendly economic policies of Governor Bala Mohammed’s administration and assured partners that the Bauchi state government remains open for partnerships and collaborations geared towards economic development for the best interest of the state and its people.
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