President Bola Tinubu has declared that his administration will not back down on its controversial tax reform initiative, emphasizing its importance for reviving Nigeria’s economy. Speaking during his maiden presidential media chat on Monday night, Tinubu dismissed suggestions of returning to outdated economic practices.

“Tax reform is here to stay; we cannot just continue to do what we were doing years to years in today’s economy. We cannot retool this economy with the old broken books,” the President stated. “I am focused on what Nigeria needs and what I must do for Nigeria. It is not just going to be Eldorado for everybody, but the new dawn is here. I am convinced, and you should be convinced.”

On October 3, Tinubu submitted four tax reform bills to the National Assembly, sparking widespread debate. Critics, particularly from the northern region, have resisted the proposals, citing concerns about their potential economic impact.

In response to the controversy, the National Economic Council (NEC) recommended that the President withdraw the bills to allow for further consultations. However, Tinubu rejected the suggestion, insisting that the reforms proceed through the legislative process as planned.

The President defended his decision, framing the reforms as a necessary step to address the country’s economic challenges. “I believe I have that capacity; that is why I went into the race,” he said.

As the legislative process unfolds, Tinubu’s unwavering stance signals his commitment to implementing tough reforms despite public resistance, positioning the tax initiative as a cornerstone of his economic strategy.