By Adedapo Adesanya
President Bola Tinubu has said a bill seeking to reduce the tax burden placed on businesses operating in the country would soon be transmitted to the National Assembly for legislation.
Mr Tinubu confirmed this on Tuesday morning while address the nation in his broadcast to celebrate Nigeria’s 64th Independence Anniversary. He stated that the bill titled Economic Stabilisation Bill will also reduce the tax burden on Nigerian workers.
“We are moving ahead with our fiscal policy reforms. To stimulate our productive capacity and create more jobs and prosperity, the Federal Executive Council approved the Economic Stabilisation Bills, which will now be transmitted to the National Assembly,” he said.
President Tinubu assured that the bill after passage would make the country friendly for investors and promote investment, saying his administration is focusing on increasing productivity in the country and creating more jobs.
Recall that due to some of the administration’s policies, some companies, including GlaxoSmithKline (GSK), Procter & Gamble (P&G), Sanofi, and Equinor, among others have announced exit from the country.
Some of the reasons given by these firms include challenges around foreign exchange after the devaluation of the Naira, as well as insecurity and lower revenue.
On security, the President said, “I am happy to announce to you, my compatriots, that our administration is winning the war on terror and banditry.
“Our target is to eliminate all the threats of Boko Haram, banditry, kidnapping for ransom, and the scourge of all forms of violent extremism. Within one year, our government has eliminated Boko Haram and bandit commanders faster than ever.”
“It is an unfinished business, which our security agencies are committed to ending as quickly as possible,” he added.