Tinubu and Elumelu Discuss Tax Reforms and SMEs

On Friday, President Bola Ahmed Tinubu met with Mr. Toni Elumelu, Chairman of United Bank for Africa (UBA) Group Plc, at the State House in Abuja.

The closed-door meeting focused on advancing economic growth through tax reforms aimed at strengthening small and medium enterprises (SMEs). President Tinubu expressed a strong commitment to enhancing the capacities of SMEs, which he described as the engine of economic growth, and emphasized the importance of supporting young entrepreneurs across Nigeria.

Elumelu highlighted the potential of tax reforms to boost SMEs and widen opportunities for enterprise growth. The discussion also included an assessment of the current economic trends and monetary policies directed by the Central Bank of Nigeria.

Tinubu expressed satisfaction with the leadership performance of the Bank of Industry (BOI) and reiterated the government's alignment with private sector priorities to support entrepreneurship and encourage youth engagement. Additionally, the meeting addressed the need for improvements in electricity supply to facilitate economic development.