Former Speaker of the House of Representatives, Yakubu Dogara, has accused former President Muhammadu Buhari of printing about ₦22.7 trillion through the “ways and means” window, saying that the move wrecked the value of the naira and impoverished Nigerians.
Mr Dogara stated this at the maiden distinguished parliamentarian lecture with the theme: Navigating Tax Reform in Nigeria: insights on President Tinubu’s policies,” held in Abuja.
“By the time President Tinubu took office, the economic debris of the nation had become too conspicuous to be ignored. N22.7 trillion had been printed and injected into the economy in the name of Ways and Means thereby destroying the value of the naira in our pockets,” he said.
The former speaker, however, also lauded President Bola Tinubu for not only rescuing the country from doldrums of economic instability but unifying the exchange rate.
Mr Dogara said: “So from day one, it was very clear that something urgent, nay revolutionary must be done to prevent our economy from imploding.
“So the president’s job as an economic reformer began on day one. Every reformer knows that progress is not promised, it is always fought for.”
Describing the president as a tested democrat, Dogara affirmed Tinubu’s knowledge and passion for a prosperous nation which necessitated the tax reform.
He saluted Tinubu’s courage and wisdom to set up the Presidential Committee on Fiscal Policy and Tax reform aimed at reforming Nigeria’s obsolete tax laws.
Dogara who said that tax reform is not punishment but a pact, urged Nigerians to support the tax reforms which have long term benefits.
He acknowledged the fact that reform efforts often face significant opposition from those who benefit from the status quo, as he expressed hope with strategic planning, persistent advocacy to overcome.
Speaking, the Chairman, Nigeria Union of Journalists, (NUJ), FCT Council, Grace Ike said that tax reform is pivotal to Nigeria’s economic growth, fiscal sustainability and social development.
Ms Ike said that these are commendable bold steps under Tinubu’s leadership, tailored to modernise and strengthen Nigeria’s tax system.
“These reforms seek to broaden the tax base, enhance revenue generation and create a more transparent and efficient framework that encourages compliance and fairness.”
She, however, stressed the need for closer emphasis on improved infrastructures, urging government to deploy taxes effectively.
Ike applauded the government’s commitment to ensuring economic diversification through tax policies that reduce over-dependence on oil revenues.
Earlier, the Chairman, House of Representatives Press Corps, Gboyega Onadiran, said that taxation in Nigeria has become one of the most contentious issues of the time.
Mr Onadiran highlighted the role of the media in propagating facts and contents around the tax reform for positive impacts.
“As journalists, we are the mirror of society and agenda setters, we believe this forum offers a unique opportunity to unpack these grey areas and simplify parliamentary activities for Nigerians.”
He explained that the purpose of the maiden lecture was to create a platform where distinguished parliamentarians, past and present, share knowledge and provide clarity on topical national issues.
The Press Corps Chairman said that the lecture was vital because it was designed to deepen the understanding of these tax reforms and to reflect on the role of parliamentarians in shaping the nation’s future. (NAN)
Former Speaker of the House of Representatives, Yakubu Dogara, has accused former President Muhammadu Buhari of printing about ₦22.7 trillion through the “ways and means” window, saying that the move wrecked the value of the naira and impoverished Nigerians.
Mr Dogara stated this at the maiden distinguished parliamentarian lecture with the theme: Navigating Tax Reform in Nigeria: insights on President Tinubu’s policies,” held in Abuja.
“By the time President Tinubu took office, the economic debris of the nation had become too conspicuous to be ignored. N22.7 trillion had been printed and injected into the economy in the name of Ways and Means thereby destroying the value of the naira in our pockets,” he said.
The former speaker, however, also lauded President Bola Tinubu for not only rescuing the country from doldrums of economic instability but unifying the exchange rate.
Mr Dogara said: “So from day one, it was very clear that something urgent, nay revolutionary must be done to prevent our economy from imploding.
“So the president’s job as an economic reformer began on day one. Every reformer knows that progress is not promised, it is always fought for.”
Describing the president as a tested democrat, Dogara affirmed Tinubu’s knowledge and passion for a prosperous nation which necessitated the tax reform.
He saluted Tinubu’s courage and wisdom to set up the Presidential Committee on Fiscal Policy and Tax reform aimed at reforming Nigeria’s obsolete tax laws.
Dogara who said that tax reform is not punishment but a pact, urged Nigerians to support the tax reforms which have long term benefits.
He acknowledged the fact that reform efforts often face significant opposition from those who benefit from the status quo, as he expressed hope with strategic planning, persistent advocacy to overcome.
Speaking, the Chairman, Nigeria Union of Journalists, (NUJ), FCT Council, Grace Ike said that tax reform is pivotal to Nigeria’s economic growth, fiscal sustainability and social development.
Ms Ike said that these are commendable bold steps under Tinubu’s leadership, tailored to modernise and strengthen Nigeria’s tax system.
“These reforms seek to broaden the tax base, enhance revenue generation and create a more transparent and efficient framework that encourages compliance and fairness.”
She, however, stressed the need for closer emphasis on improved infrastructures, urging government to deploy taxes effectively.
Ike applauded the government’s commitment to ensuring economic diversification through tax policies that reduce over-dependence on oil revenues.
Earlier, the Chairman, House of Representatives Press Corps, Gboyega Onadiran, said that taxation in Nigeria has become one of the most contentious issues of the time.
Mr Onadiran highlighted the role of the media in propagating facts and contents around the tax reform for positive impacts.
“As journalists, we are the mirror of society and agenda setters, we believe this forum offers a unique opportunity to unpack these grey areas and simplify parliamentary activities for Nigerians.”
He explained that the purpose of the maiden lecture was to create a platform where distinguished parliamentarians, past and present, share knowledge and provide clarity on topical national issues.
The Press Corps Chairman said that the lecture was vital because it was designed to deepen the understanding of these tax reforms and to reflect on the role of parliamentarians in shaping the nation’s future. (NAN)
