Tax Reforms Will Ease Burden on Small Businesses, Reduce Poverty — Shettima

Vice President Kashim Shettima has said the implementation of new tax reforms will ease the burden of multiple levies and charges placed on small businesses and low-income earners in Nigeria, a move he noted would help reduce poverty.

Shettima explained that the reforms were carefully planned and structured to improve the living conditions of Nigerians, dismissing claims by political critics that the policies were harmful to the public.

The Vice President spoke on behalf of Bola Ahmed Tinubu during an interfaith breaking of fast for both Ramadan and Lent held at the State House.

He said the government remains deeply concerned about the challenges facing Nigerians and is introducing policies aimed at lifting people out of poverty without placing additional financial pressure on them.

According to him, critics who claim that the tax reforms are designed to impoverish the poor are mistaken.

“The same people who are shouting that the tax reform is meant to pauperise the poor are far from the truth. We must go out and tell the people the truth.

“We need to educate them. We have to mount the pulpits and take the message of government to the Nigerian people and explain the reality to them,” he said.

Shettima also pointed to some gains from the ongoing economic reforms, including an increase in Nigeria’s foreign exchange reserves, the unification of exchange rates, and the removal of a subsidy that he said had benefited only a few individuals for many years.

He added that President Tinubu deserves commendation for taking bold steps to address long-standing economic issues that previous administrations had avoided.