Tax reforms will cut poverty, end multiple levies — Shettima

Vice-President Kashim Shettima has said the Federal Government’s planned tax reforms will eliminate the burden of multiple levies on small businesses and help reduce poverty across the country.

Shettima spoke on behalf of President Bola Ahmed Tinubu during an interfaith breaking of fast for Ramadan and Lent held at the State House in Abuja.

The event was attended by members of the Federal Executive Council, the governor of the Central Bank of Nigeria and other senior government officials.

According to the vice-president, the proposed tax reforms are designed to remove tax burdens on low-income earners while creating a fairer and more efficient system that supports economic growth.

He said the reforms were carefully planned to improve the livelihoods of Nigerians and correct misconceptions about the policy.

“The same people who are shouting hoarse that the tax reform is meant to pulverise and pauperise the poor are far from the truth,” Shettima said.

He urged government officials to take the message of the reforms directly to citizens and help educate the public about their benefits.

Shettima also highlighted what he described as the gains of the administration’s economic reforms, including increased foreign exchange reserves and the unification of exchange rates.

He noted that the removal of fuel subsidy had addressed a long-standing economic challenge that previously benefited only a few.

According to him, President Tinubu demonstrated courage by confronting structural distortions in the economy.

“Three years down the road, the economy has bounced back,” he said.

The vice-president further urged government officials to actively communicate the achievements of the administration and remain prepared to counter misinformation from opposition groups.