The Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC) has described the recent tax reform bills signed into law by President Bola Tinubu, as a major relief for millions of low-income Nigerians who have long struggled under the weight of taxation while earning modest incomes.
Chairman of the Commission, Dr. Muhammed Shehu, in a statement, said the passage of these tax reforms, along with the new RMAFC bill, marks a transformative step towards strengthening the nation’s fiscal architecture. Tinubu’s determination to address longstanding issues in revenue generation, allocation, and economic management.
“These reforms are not just administrative changes; they are deliberate efforts aimed at modernising Nigeria’s tax system, strengthening compliance, and widening the tax base. “Ultimately, this will promote inclusive economic growth across all sectors and reduce our over-reliance on oil revenue,” he said.
Dr. Shehu added that the reforms are designed to enhance transparency and accountability in the management of public funds, paving the way for more sustainable economic development. The Commission believes the measures will stimulate growth, create a fairer tax environment, and give low-income earners the breathing space they desperately need.
Commending the President’s approach, Dr. Shehu described the reforms as a product of visionary leadership and a practical response to Nigeria’s socio-economic realities. “By signing these bills into law, President Tinubu has shown a deep understanding of the economic challenges faced by everyday Nigerians and has taken concrete action to address them,” he said.
The Commission also extended appreciation to the National Assembly for its role in bringing the reforms into effect. Dr. Shehu acknowledged the efforts of Senate President Godswill Akpabio and Speaker of the House of Representatives, Rt Honourable Tajudeen Abbas, as well as the Attorney General of the Federation, Chief Lateef Olasunkanmi Fagbemi SAN, policymakers, and other stakeholders who worked collectively to move the legislation forward.
Looking ahead, the RMAFC assured the federal government of its continued partnership in implementing the new tax framework. The Commission said it remains committed to collaborating with relevant agencies to ensure that the intended benefits of the reforms—greater revenue efficiency, fairer taxation, and broader economic growth—are fully realised.
“These reforms represent a milestone in our national journey to diversify the economy and secure long-term prosperity for Nigerians,” Dr. Shehu said. “The Commission stands ready to support their full implementation for the benefit of all.”
Source; The Nation News
