Tax reform bills will boost Nigeria's economy — FG
Experts in law and finance, including top government officials, have emphasized the crucial role of law in promoting economic prosperity for Nigeria.
The federal government has reiterated that the tax reform bills currently before the National Assembly are expected to have a multiplier effect on the economy.
This discussion took place during the 15th anniversary lecture for T & A Legal, held in Lagos on Saturday.
In her keynote address, titled 'Driving the Future Economy in Nigeria: The Catalytic Role of Law,' the Minister of State for Industry, Trade and Investment, Dr. Jumoke Oduwole, expressed her pride in the milestone achievement of the firm, highlighting that it reflects the power of vision.
Oduwole stated that the federal government would continue to foster an enabling environment and implement laws that support both investment retention and promotion, ultimately driving prosperity for the people.
She cited the tax reform bills currently with the National Assembly, noting that their passage would significantly benefit the economy.
'We believe very strongly that unless you support businesses operating in Nigeria, of which this firm is one, we really wouldn't get more investment necessary to catalyse our economy,' she added.
She explained that the FG would leverage trade policy to drive more investments into the country.
She said FG is determined to operationalise AFCFTA in a way that it would help Nigeria trade across Africa and the rest of the world.
Also speaking at the occasion, the Chairman of Federal Inland Revenue Service, Dr Zachaeus Adedeji, stated that law serves not just as a regulatory mechanism but as a tool for enabling innovation, fostering inclusion, and unlocking the nation's vast resource.
Adedeji stated that efficient, fair, and transparent tax laws not only empower governments to provide essential infrastructure, education, and healthcare but also foster compliance and build a sense of shared responsibility.
Emphasising that the tax reform bills represent more than just fiscal policy changes, he noted that implementation of the reform underscores a commitment to equity, inclusion, and the creation of a tax system that works for all Nigerians.
The Co-Founding Partner, T & A Legal, Seyi Adisa, described the 15 years milestone achievement of the firm as a celebration of vision and commitment of the founders, which have contributed to its current status.
Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (Syndigate.info).
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