Speaker of the House of Representatives, Abbas Tajudeen, has assured Nigerians that the long-standing "envelope system" of budgeting—where agencies only receive limited allocations regardless of their needs—will soon be phased out once the Tinub…  | By Enitan Ajebukola Ajewumi on September 30, 2025 | Speaker of the House of Representatives, Abbas Tajudeen, has assured Nigerians that the long-standing "envelope system" of budgeting—where agencies only receive limited allocations regardless of their needs—will soon be phased out once the Tinubu administration's tax reforms take effect. Speaking at an engagement with Nigerian youths, Tajudeen explained that low revenue has constrained government budgets for years, but the new tax reform is expected to multiply Nigeria's revenue base "at least fivefold" in the next one to two years. He said this would enable sector-specific funding that meets international standards, particularly in education and healthcare. Read also, The Speaker also emphasized the government's commitment to tackling insecurity and creating an enabling environment for prosperity, while urging youths to embrace honesty, transparency, and resilience. He described President Tinubu as his role model for building lasting relationships and leadership consistency, adding that the president's collaboration with the National Assembly is key to reforms that will strengthen Nigeria's economy. | | | |
No comments:
Post a Comment