The Chartered Institute of Taxation of Nigeria (CITN) has urged the federal government to implement economic policies gradually for optimal impact and not drastic as witnessed in some of the decisions taken so far.
The national president of the CITN, Samuel Agbeluyi, said this in Abuja at the third joint CITN and Association of National Accountants of Nigeria (ANAN) Council retreat, 2023, titled, ‘Forging Effective Synergy among Government, Corporate and Professional Bodies.’
“We would like to advise the government to be a bit slow and not drastic in some of the decisions to be taken. For instance, the impact of the removal of subsidy and the current pump price of fuel is enormous on the citizens. In order not to make it too drastic, we may need to slow down the introduction of other policies.
“If we add the price increase in electricity tariff to what is on ground right now, it would cause a kind of dislocation to the system that may be difficult to handle,” he said.
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He, however, commended President Bola Tinubu for starting his administration on a good note by the removal of fuel subsidy and setting up a committee for tax reforms.
On his part, the national president of the ANAN, Dr James Neminebor, said accounting and taxation ideas should be put together for one purpose, which is to assist the government succeed. He also urged citizens to own economic development to their personal and societal benefits.
