President Bola Tinubu said yesterday that tax reform has come to stay but noted he was ready to compromise on the controversial bills.
He also said he had no regrets about removing the fuel subsidy.
President Tinubu clarified this in his maiden presidential media chat.
He tasked Nigerians with understanding, assuring them that better days were ahead, adding that he understood their pains.
He said: “Tax reform is here to stay. Why do you want to know that today? Tax matters are subject to debates, reviews and negotiations until you reach concessions. That is what I am going to say about that. I don’t mind cutting edges.
“We cannot continue to do what we previously did in today’s economy. We cannot retool this economy with the same broken boat and I believe that I have that capacity that is why I went into the race. I am focused on what Nigeria needs and what I must do for Nigerians.
“It is not yet eldorado for everybody but the new dawn is here. I am convinced.”
Asked whether he would reduce the size of his cabinet to cut the cost of governance, Tinubu said: “I am not prepared to bring down the size of my cabinet. I saw the need when I put them together. You do not give somebody any assignment he or she cannot fulfill. The job description must be efficient and effective. Nigeria is a large country. If you are to entertain over 200 million people, calculate how many stewards you will need. Let us pay attention to efficiency. Efficiency and effectiveness are the hallmark behind the philoshopy of that cabinet and I am not ready to shrink a bit of it. All the ministers are adding value.”
Speaking on the stampedes that happened in Oyo, Anambra and the FCT, he said: “It is a mixed feeling for one to lose loved ones especially children particularly in Oyo State followed by various other incidents. Are we looking at it from the organisers’ point of view or from the goodwill gesture of the organisers trying to give out things from their possession? It is very sad that people are not well organised. We just need to be disciplined in our society. Condolences to those who lost family members but it is good to give.
“I have been giving out foodstuffs, commodities, and envelopes at Bourdillon in the last 25 years and I have never experienced this kind of incident because we are organised and disciplined. If you do not have enough to give, please don’t attempt to give or try to publicise it.
“Every society, even in the United States of America, they have food banks and they are organised. It is unfortunate that we are not organised and it reflects at our bus stops, people do not want to be on the queue when they want to board buses.
“It is very sad but we will continue to learn from our mistakes.
To me, I see this as a grave error on the part of the organisers. Things are improving.
“We must admit that things have been very tough for many households.”
Asked whether he could have withheld the removal of subsidy on fuel and the harmonisation of forex while there were contigency plans, he said: “Where is the contigency plan? We were spending our future, we were spending the fortunes of our generations and we were not investing. We were just deceiving ourselves. The reforms were necessary. I could see the smugglers fighting back but that does not affect me. Why should you have expenditures that you do not have revenues for? We should teach management with all our programmes.
“We have to manage our resources within our limit.
“There is no way you will give out fuel to all neighbouring countries as Father Christmas. I don’t have any regrets whatsoever in removing subsidy, it is necessary. We cannot spend the fortunes of our future generations.”
Speaking on fuel subsidy, the President said he has no regrets about its removal.
He said: “It is part of the fear that is unnecessary. No matter how you cut it in segments, you still have to face the bill. We must manage what we have. We have no choice but to pull the hand brake; otherwise; we are headed for a slippery slope that will result in financial disaster. It is not just for us but for our children and grandchildren. Where is the inheritance or the pathway to prosperity?”
On debt servicing and borrowing, he said: “Borrowing is not criminal; it is the mismatch of our needs. We have a serious infrastructure deficit. We must have money for the long term infrastructure. We headed the wrong road in the past and I don’t want to look at that. I want to think of prosperity for our country. I want to think about tomorrow today.
“Our roads are terrible, our internet is not up to the level we should be in terms of technology; we are still indebted in power generation and electricity. How do you start? We just have to take it with two hands and brace up for a long push. It is not because we want to inflict pain on anybody, it is because we want this country to grow. There is no other way out of it unless we invest in today’s prosperity.”
On whether he would investigate and remove his service chiefs, Tinubu said: “Today, I have confidence in the security architecture of this country. I am not removing my service chiefs, you cannot insult an institution because of type of approach.
“You cannot fight this way without investment in technology, weaponry and training.
“There might leakages here and there but it is not wholesale. It is unfortunate that two decades of killings. During my campaigns, I had to cut short my campaigns to pay condelence visits to Kaduna, Borno and Zamfara but today you can travel by road. Before now, it was impossible.
“It takes one incident to mess up an organised environment. The enemies within and without are looknig at what you are doing; you must be prepared at all times to ensure people are safe.
“Today, that is not the story; people can leave Kaduna and go to Kanfanchan by road. The road may not be that smooth but gradually, we will get there.”
On Ways and Means, he said: “We have exited what used to be the era of Ways and Means because we have more revenue is being generated.
“Nigeria is moving forward. We can’t finish the job in one year and I am not giving myself an excuse.”
Vanguard
