By Dare Ojepe

At this significant crossroads, the future prosperity of Nigeria heavily relies on visionary reforms and active civic participation. One such critical reform, currently being pursued by President Bola Tinubu, involves the restructuring of our nation’s tax system—a move that promises to lay the foundation for sustainable economic growth and enhanced socio-economic equity.

Let us begin with the essence of the reform. These changes are not just about numbers and policies; they represent a transformative vision for our country; one where resources are judiciously managed, and opportunities are equitably distributed among all Nigerians, especially the youth, who are the backbone of our nation.

Driving Economic Growth

The proposed tax reform is designed to foster an economic environment where businesses can thrive and innovation is encouraged. By broadening the tax base and ensuring efficiency in collection, the government aims to create a more stable economic foundation. This stability is crucial for attracting domestic and international investments, which, in turn, translate to increased job opportunities, particularly for young Nigerians entering the workforce.

Enhancing Public Service Delivery

The link between tax reform and effective public service delivery can not be overstated. With better compliance and fairer distribution, tax revenues can significantly boost funding for essential services such as education, healthcare, and infrastructure. Imagine schools with state-of-the-art facilities, hospitals with modern equipment, and roads that connect our nation seamlessly, all attainable with the right fiscal policies and when government can mobilise enough revenue to deliver on them. As it currently stands, Nigerian government is unable to mobilise tax revenue to fund our development compared to our peers in Africa like South Africa, Kenya, Algeria, Egypt, Angola and Ethiopia where government tax to GDP ratio is well over 18%.

Empowering Youth and Entrepreneurs

One of the exciting aspects of these reforms is the focus on creating a supportive environment for youth entrepreneurship. The reforms include some tax exemptions for businesses with annual turnover of less than fifty million naira, which significantly benefits budding entrepreneurs. This measure encourages startups and small enterprises, enabling young Nigerians to transform their innovative ideas into flourishing businesses without the immediate pressure of financial burdens.

Furthermore, the reform proposes some tax exemptions for employees whose annual income is less than ten million naira. This initiative directly impacts young professionals entering the workforce, allowing them to save more and invest in their future, thereby enhancing their economic stability.

Ensuring Transparency and Accountability

At the heart of any effective reform is transparency. The proposed changes include measures to enhance accountability in tax administration, ensuring that every naira collected is directed towards meaningful development projects. This approach aims to build public trust and foster a civic culture where contributing to national growth is seen as a collective responsibility.

A Call to Action

To the vibrant youth of our nation, your role in this transformation is indispensable. We urge you to engage in this dialogue, to understand the nuances of these policy shifts, and to advocate for transparent and equitable reforms. Your voices, your ideas, and your actions are essential in driving this change and securing a prosperous future for all.

Let us unite with purpose and determination, embracing these reforms not as mere policy adjustments but as the stepping stones to a brighter Nigeria. Together, we can create an enduring legacy of prosperity and equity for generations to come.

-Ojepe is the Senior Special Assistant to the President on Youth Engagement_

Anambra State Government has expressed deep grief over the tragic loss of lives in the stampede that occurred during a rice-sharing event in Okija town, Ihiala Local Government Area of the state on Saturday.

The governor of the state, Professor Chukwuma Charles Soludo, in a press release by his press secretary, Mr Christian Aburime said anyone sharing food items to indigent people must henceforth prioritize their safety.

The press release reads: “In his expression of sympathy, Anambra State Governor, Professor Chukwuma Charles Soludo, extends his deepest condolences to the families of the deceased, especially the women, the elderly, pregnant, nursing mothers and children who lost their lives in this unfortunate incident.

“The State Government has also implored all well-meaning individuals and organisations engaged in charitable activities to prioritise the safety and well-being of beneficiaries.

“The resulting tragedy underscores the urgent need for a more structured and safer approach to distributing such assistance.

“According to available information, the State Government acknowledged that the Obi Jackson Foundation, led by Chief Ernest Obiejesi, had organised the event with the noble intention of sharing relief materials with less privileged members of the community during this festive season.”

He said that the Anambra State government had initiated a thorough investigation into the circumstances surrounding the stampede.

“The government will work closely with relevant agencies to determine the root causes of this unfortunate event and ensure that any negligence or lapses in safety protocols are duly addressed.

“It is strongly advised that future distributions of relief materials be conducted in a more organised and decentralised manner, with adequate crowd control measures in place.

“This may include establishing multiple distribution points within the community to reduce overcrowding at a single location; implementing a system to prioritise vulnerable groups such as the elderly, pregnant women, children and people with disabilities, employing trained personnel to manage crowds, ensure orderly queues, and provide assistance to those in need; and conducting public awareness campaigns to educate the public on safety protocols during such events,” he said.

President of the Dangote Industries Limited, Aliko Dangote, has lauded President Bola Tinubu over his role in ensuring the implementation of the crude-for-naira deal.

Africa’s richest man disclosed this in a statement made available to Newsmen on Saturday.

According to him, the deal has led to the reduction in the prices of petroleum products across the country.

This comes as Dangote reiterated his commitment to providing Nigerians with quality petroleum products.

“The Dangote Refinery is for the benefit of Nigeria and Nigerians. We will therefore continue to work with various value chain players to deliver high-quality petrol at cheaper prices.

“Our aim is for all Nigerians to have ready access to high-quality petroleum products that are good for their vehicles, good for their health, and good for their pockets,” Dangote said.

Recall that in September 2024, Tinubu approved the sale of crude to local refineries in Naira and the corresponding purchase of petroleum products in Naira.

The move, which commenced on October 1, led to reduced pressure on the dollar and ensured the stability of the local currency.

Dangote also appreciated Nigerians for their unwavering support, and thanked the government for creating an enabling environment for the domestic refining industry.