New Tax Law, Not Additional Hardship On Nigerians – Folarin

Former Senate Leader Teslim Folarin has defended the new tax laws, stating that they were not designed to impose additional hardship on Nigerians.

He urged Nigerians to remain calm, informed, and supportive of the tax reforms introduced by President Bola Ahmed Tinubu.

Speaking during the continuation of the 14 Federal Constituency tour across the Irepo/Olorunsogo/Orelope Federal Constituency and the Atisbo/Saki West/Saki East Federal Constituencies, Folarin described the new laws as critical measures aimed at strengthening Nigeria’s revenue base and ensuring sustainable national development.

Folarin, the leader of the Renewed Hope Ambassadors in Oyo State, stated that the reforms were aimed at enhancing efficiency, blocking revenue leakages, and reducing Nigeria’s long-standing overdependence on oil revenue.

He noted that Nigeria’s tax-to-GDP ratio remains among the lowest globally, which limits the government’s capacity to adequately fund critical sectors such as infrastructure, healthcare, education, and security without excessive borrowing.

He emphasised that the reforms’ primary focus was on broadening the tax base rather than increasing tax rates across the board, noting that low-income earners remained protected through existing income thresholds and statutory exemptions.

Folarin assured that greater tax responsibility would rest on higher-income earners, large corporations, and sectors with weak compliance records.

Beyond the tax reforms, the Renewed Hope Ambassador conveyed Tinubu’s appreciation to party members and the people for their support during the 2023 presidential election.

He further disclosed that the Oyo State chapter of the APC is targeting at least a 35 per cent improvement on its 2023 electoral performance ahead of the 2027 general elections.

Calling for continued public support, Folarin said institutional reforms were taking firm root, outcomes are beginning to manifest, the economy is stabilising, and confidence is steadily being restored.

Also speaking, Senators Abdulfatai Buhari, Sharafadeen Alli, Ayo Adeseun, Hosea Agboola, and Olayide Abass charged APC members to uphold discipline and strengthen internal cohesion.

Leaders like the former deputy governors in Oyo State, Chief Iyiola Oladokun, Chief Moses Alake, and Engr. Rauf Olaniyan, as well as Alhaji Fatai Ibikunle, Engr. Idris Adeoye, Mrs. Hanna Ogunesan, Prof. Adeolu Akande, Hon. Tajudeen Kareem, Hon. Olaide Muhammedah, Hon. Olamiju Alao-Akala, Hon. Remi Oseni, Barr. Adebayo Shittu, Rt. Hon. Muraina Ajibola, Hon. Bolaji Repete, Hon. Akeem Akogun, and Hon. Bosun Oladele also spoke at the event.

The leaders called on APC members to remain disciplined and united, stressing that success in the 2027 elections would depend on cooperation, cohesion, and collective commitment rather than internal rivalry within the party.