Tinubu's Tax Reforms: Solution to Inflation or Economic Hardship?

The Bola Tinubu administration's proposed tax reform bills have sparked intense debate across Nigeria. Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, claims these reforms will reduce inflation and ease household costs despite concerns about economic hardship. With inflation currently at 34.8%, the government aims to bring it down to 15% by December while also planning a gradual VAT increase from 7.5% to 12.5% by 2026. Economic Analyst Olusesan Okunade addresses key questions in this discussion: Can these reforms truly stabilise the economy? Will the VAT hike stifle growth or provide much-needed revenue? And is allocating 60% of VAT revenues to generating states fair?
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