President Bola Tinubu on Tuesday in Abuja inaugurated the Presidential Committee on Fiscal Policy and Tax Reforms, where he noted that the vicious cycle of over-reliance on borrowing for public spending was over.
He lamented the burden of debt servicing, saying it places enormous constraints on government revenues.
The Presidential Committee on Fiscal Policy and Tax Reforms is chaired by Mr. Taiwo Oyedele.
While giving the Committee its mandate, the President charged the members to improve the country’s revenue profile and business environment especially as the Federal Government moves to achieve an 18% Tax-to-GDP ratio within three years.
The President directed the Committee to achieve its one-year mandate, which is divided into three main areas: fiscal governance, tax reforms, and growth facilitation.
He also directed all government ministries and departments to cooper
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