By Olasunkanmi Akoni & Adeola Badru
IBADAN — FORMER Senate Leader, Senator Teslim Folarin, yesterday, urged Nigerians to remain calm, well-informed and supportive of the tax reforms introduced by President Bola Tinubu, stressing that the measures were not targeted at the poor but designed to strengthen Nigeria’s revenue base and promote sustainable national development.
Senator Folarin clarified this while touring Irepo/Olorunsogo/Orelope Federal Constituency and the Atisbo/Saki West/Saki East Federal Constituencies.
He explained that the new tax laws were not intended to impose additional hardship on ordinary Nigerians.
He said: “The reforms are aimed at improving efficiency within the tax system, blocking revenue leakages and reducing Nigeria’s long-standing overdependence on oil revenue.
“Nigeria’s tax-to-GDP ratio remains among the lowest in the world, a situation that significantly constrains the government’s ability to adequately fund critical sectors such as infrastructure, healthcare, education and security without resorting to excessive borrowing.
“Low-income earners remain protected through existing income thresholds and statutory exemptions, while greater tax responsibility will fall on higher-income earners, large corporations and sectors with weak compliance records.”
It’s not a weapon against the poor— Lagos APC
Also, the All Progressives Congress, APC, in Lagos State, yesterday, reassured Nigerians that the new tax reform is not a weapon against the poor.
Spokesman of the party, Mr Seye Oladejo, in a statement titled ‘Beyond politics: The truth about the new tax reform said: “We consider it imperative, in the interest of truth, national stability, and informed civic engagement, to set the records straight, beyond politics.
“First, it must be clearly stated that the new tax reform is not a weapon against the poor, nor is it an attempt to overburden struggling Nigerians.
“On the contrary, the reform is deliberately structured to protect low-income earners, expand exemptions, and introduce a more progressive, fair, and humane tax system that aligns with global best practices.”
“Contrary to the alarmist narratives peddled by the opposition, Nigerians earning within the lowest income brackets are either fully exempted or will experience reduced tax exposure under the new regime.
“The reform targets efficiency, equity, and accountability. Those who have chosen to weaponise falsehoods against this policy have done so out of either ignorance or calculated desperation.”
“Beyond politics, beyond propaganda, and beyond fear -the truth is that Nigeria is laying the foundation for a stronger, fairer, and more sustainable economic future.”
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