President Bola Tinubu has clarified that the recent economic reforms introduced by his administration are necessary interventions designed to prevent Nigeria’s economy from collapsing, rather than punitive measures against citizens. Speaking on Thursday at the 55th Annual Conference of the Nigerian Institute of Estate Surveyors and Valuers (NIESV) in Abuja, Tinubu emphasized the strategic nature of the government’s policies.
Represented by the Minister of Housing and Urban Development, Ahmed Dangiwa, the president highlighted that the reforms are part of a broader effort to diversify Nigeria’s economy and expand its revenue base. The conference, themed “Transform, Invest, Drive: Optimising Real Estate Finance and Taxation,” provided a platform for discussing ways to enhance economic growth through improved tax policies and investment strategies.
“Our decision to reform Nigeria’s tax system and fiscal policy was deliberate and strategic,” Tinubu said. “It was a courageous and bold move aimed at addressing the suffocating economic challenges facing the nation.”
The president further explained that the reforms are tailored to create a more investment-friendly environment, particularly in the real estate sector, which is vital for job creation and overall economic development. He acknowledged the critical role estate surveyors and valuers play in achieving these goals and expressed the government’s readiness to collaborate with NIESV to ensure effective tax administration and prudent revenue utilization.
Tinubu’s remarks underscore the administration’s commitment to fiscal responsibility, transparency, and fostering an enabling environment for sustainable economic growth amid challenging times.