Vice President Kashim Shettima on Wednesday declared that the Federal Government’s new tax reforms will eliminate multiple levies and charges imposed on small businesses and low-income earners, a move aimed at reducing poverty and easing economic pressure on Nigerians.
Shettima made the assertion in Abuja while representing President Bola Tinubu at an interfaith breaking of fast for Ramadan and Lent at the State House, according to a statement by presidential spokesman Bayo Onanuga made available to The News Chronicle.
The event was attended by members of the Federal Executive Council, the Governor of the Central Bank of Nigeria, special advisers, senior special assistants, and heads of government agencies and parastatals.
The Vice President said the tax reforms were carefully crafted to improve the livelihoods of Nigerians, dismissing claims by critics that the policies were designed to further impoverish the poor.
According to him, the government remains deeply concerned about the hardship faced by citizens and is rolling out policies to lift millions out of poverty without increasing their burden.
“The same people who are shouting hoarse that the tax reform is meant to pulverise and pauperise the poor are far from the truth. We must go out and tell the truth to the Nigerian people,” Shettima said.
“We have to educate them. We must mount the pulpits and take our government to the people and explain the facts.”
Highlighting the impact of the administration’s economic reforms, the Vice President pointed to improved foreign exchange reserves, the unification of exchange rates, and the removal of fuel subsidy, a policy he said had long benefited only a privileged few.
Shettima praised President Tinubu for taking bold decisions that previous administrations avoided, describing the reforms as necessary steps to stabilise and rebuild the economy.
He noted that although the removal of fuel subsidy was not initially included in the President’s 2023 inaugural address, the decision became inevitable as the system continued to drain national resources.
“Three years down the road, the economy has bounced back,” he said.
Shettima also thanked government officials for their loyalty and support to the administration, urging them to actively promote the government’s achievements and counter misinformation from opposition parties.
“On behalf of the President, I thank you all for your comradeship, support, and partnership,” he added.
