The Forum of South-East Academic Doctors (FOSAD) has lauded President Bola Ahmed Tinubu for signing the newly enacted tax legislation, describing the law as a progressive fiscal measure that prioritizes the needs of low-income Nigerians.
In a statement signed by FOSAD President, Dr Stephen Nwala and the Secretary General, Dr Uzor Ngoladi, FOSAD noted that the tax reforms, particularly the exemption of basic goods and services from VAT and the increase in personal income tax thresholds, will provide much-needed relief for the economically vulnerable population.
“We commend President Tinubu for demonstrating political will in pushing forward a tax reform agenda that tilts the fiscal burden away from the poor. By ensuring that essential commodities and small-scale traders are shielded from regressive taxation, this law reflects a people-centred economic vision,” the statement read.
The forum, made up of academic doctors of southeast origin, highlighted that the law is consistent with global best practices that aim to broaden the tax base without hurting the poor or stifling micro and small enterprises.
FOSAD also noted the positive implications of the law on revenue generation and public service delivery, particularly in health, education, and infrastructure, provided the government ensures transparency and efficiency in tax administration.
The academic body further urged the Federal Inland Revenue Service (FIRS) and relevant agencies to embark on massive public enlightenment to help Nigerians understand the new tax regime and their obligations under the law.
“We call on the government to back this commendable policy with effective implementation and social accountability mechanisms. The gains of the tax reform must translate into visible improvements in the lives of ordinary Nigerians,” the statement added.
FOSAD reaffirmed its support for policies that promote economic justice, inclusiveness, and the dignity of the Nigerian citizen and expressed readiness to partner with government agencies on research, monitoring, and evaluation of fiscal reforms across the country.
E- Signed:
Dr. Stephen Nwala
President
Forum of South-East Academic Doctors (FOSAD)
Dr. Uzor Ngoladi
Secretary General
Forum of South-East Academic Doctors (FOSAD)
