The Chartered Institute of Taxation of Nigeria (CITN) has encouraged President Bola Tinubu to take his time implementing harsh economic policies in order to avoid disrupting the country’s economy.
The suggestion was given by the institute’s president, Samuel Agbeluyi, to journalists at the 3rd Joint Council Retreat of the CITN and the Association of National Accountants of Nigeria in Abuja.
Agbeluyi praised the government for getting off to a strong start by eliminating fuel subsidies, calling it a waste and a significant step done by President Tinubu.
“We also applaud the President for establishing a committee to modernize the country’s tax structure. However, we would advise the government to be cautious and cautious in some of its decisions; for example, the impact of the removal of subsidies, which resulted in the present price of gasoline, is significant on citizens,” he said.
“In order to avoid a severe shock, we may need to slow down the implementation of other policies.” As an example, the proposed increase in electricity tariffs, when combined with what is now in place, will produce some system disruption that may be difficult to manage.
He also emphasized that the president is off to a good start and requires everyone’s support, while appreciating his plans.
“At this point, can we manage what we’ve introduced and gradually introduce other policies without upsetting the system?” Agbeluyi inquired.