The President of the Senate, Godswill Akpabio has said the National Assembly would continue to provide legislative support for the economic policies of the President Bola Ahmed Tinubu administration.
Similarly, his House of Representatives counterpart, Speaker Tajudeen Abbas pledged the 10th Assembly's commitment to support President Tinubu’s economic reforms and the need to diversify the nation’s economy to stabilize its revenue base.
The duo spoke at a two-day retreat in Abuja for members of the House of Representatives. The retreat with the theme: “Navigating change: legislative strategies for economic transformation” was for the House to make deliberate decisions to focus on tax reforms and modernization as well as the review of the Petroleum Industry Act.
According to Senator Akpabio in his address at the retreat, “President Tinubu’s inspiring economic reform plans come at a time of challenge and change. It is during this time that a nation’s true character is revealed.
“He aims to generate jobs, introduce fiscal reforms, create better structures, and facilitate social development and progress. It is crucial that these plans receive the support of all Nigerians, particularly the legislature,” he said.
On his part Speaker Abbas said, “As a critical arm of government, the legislature has a crucial role in shaping our nation’s economic transformation and development. Part of our law-making powers is the authority to enact tax reforms and strengthen resource governance mechanism.
“By designing and implementing progressive tax policies, we strive to ensure fair, and efficient tax system that boosts revenue while fostering economic growth and equity,” he said.
The legislative retreat on economic transformation and development was organized by the House in collaboration with the Federal Inland Revenue Service (FIRS) and the Konrad Adenauer-Stiftung Foundation (KAS).
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