President Bola Ahmed Tinubu of Nigeria has defended his government’s fiscal policies as part of a comprehensive strategy to stabilize and diversify the nation’s economy. The President’s message was delivered through representatives at the 55th Annual Conference of the Nigerian Institute of Estate Surveyors and Valuers (NIESV) in Abuja on Thursday.
Tinubu, represented by Minister of Housing and Urban Development Ahmed Dangiwa, who was in turn represented by Dr. Edna Tobi, Special Assistant for International Cooperation and Partnership, emphasized the need for “courageous and bold” decisions to address Nigeria’s economic challenges, according to Vanguard Nigeria.
“Our decision to reform Nigeria’s tax system and fiscal policy was deliberate and strategic,” Tinubu stated. He added that the reforms are designed to foster a more investment-friendly environment, particularly within the real estate sector, while simultaneously stimulating job creation and sustainable economic growth. He reiterated his administration’s commitment to increasing government revenue through fair and transparent taxation.
Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service (FIRS), delivered the keynote address, highlighting the underutilization of Nigeria’s real estate sector in terms of revenue generation. Adedeji, who was represented by Chief Economic Adviser Prof. Mohammed Salisu, stated that the forthcoming Tax Administration Bill aims to streamline tax processes, improve compliance, and reduce inefficiencies and overlapping tax obligations. He called on NIESV to support the standardization of valuation methods and to collaborate on the implementation of the reforms.
