.As Akpabio urges Nigerians to embrace FG’,s reforms
…Stakeholders back reforms, say it’s the game changer
Ignatius Okorocha, Abuja
Barely Four months after President Bola Ahmed Tinubu transmitted the tax reform bills to National Assembly for consideration and passage, the Senate has won the support of stakeholders and Civil Society Organizations for it’s passage as a workable law to regulate our tax regime.
This is as various stakeholders in the polity , threw their weights behind the hitherto controversial bills at the public hearing conducted by the Senate Committee on Finance in Abuja on Monday just as the Arewa Think Tank led by the convener , Muhammad Alhaji Yakubu , debunked insinuation that the Northern part of the country , was against the proposed laws .
President Tinubu’s request for workable laws from the bills which are (i) The Nigeria Tax Bill 2024 , (ii) Nigerian Tax Administration Bill 2024, is ( iii) Nigeria Revenue Service Establishment Bill 2024 and ( iv) Joint Revenue Board Bill 2024 , was disclosed by the Chairman of the Senate Committee on Finance , Senator Sani Musa ( Niger East ) in his remarks at the public hearing .
” I met President Bola Ahmed Tinubu ( GCFR) two days ago on the tax reform bills and he told me that Mr Chairman , Senate Committee on Finance , go and do the needful .
” Give me a law that is workable from the tax reform bills I forwarded to the Senate and the House of Representatives in October last year .
” That request by Mr President came at a very auspicious time of this public hearing on the tax reform bills which are not meant to add burden to any section of the country or give undue advantage to any section as well “, he said .
It would be recalled that strident oppositions against the bills, were raised by various groups last year which made it difficult for the House of Representatives to pass it for second reading last year while the Senate managed to do so on the 28th of November last year.
However at the public hearing declared opened by the President of the Senate , Senator Godswill Akpabio , all oppositions against the bills melted out as stakeholders one after the other , threw their weights behind the proposed laws .
First to make submission , was the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun who the proposed laws are not aimed at taxing poverty but prosperity .
” The tax reform bills , as repeatedly explained at different fora since their introduction last year , are for modernization of our archaic tax laws towards effecting efficiency, equity and economic growth ” , he said .
Making similar submission , the Group Chief Executive Officer ( GCEO ) of the Nigerian National Petroleum Company Limited ( NNPCL) , Mele Kyari , said the entire oil and gas industry is well disposed to the reform .
” The proposed tax reform bills to us in NNPCL , are very necessary enhancement of growth of the economy through more efficient and effective tax collection nechanism .
” As the largest tax payer in Nigeria , NNPCL has stidied the reform bills , and found the proposals to be reasonable and necessary”, he said .
Toeing similar line in his own presentation , the Chairman of Revenue Mobilisation Allocation and Fiscal Commission ( RMAFC), Mohammed Shehu made a U – turn from earlier stance on the bills , by supporting them 100% .
He said : ” RMAFC is in support of the proposed tax reform but wants adjustments in the in the area of Value Added Tax ( VAT) distribution to subnationals .
” We hope that the proposed reform , will address the issue of endless revenue remittance reconciliation with NNPCL and others “.
The Chairman of Fiscal Responsibility Commission , Victor Muruako also supported the proposed reform bills by declaring that they are intadem with the spirit and letters of the Fiscal Responsibility Act 2007.
In their separate presentations , the convener of Arewa Think Thank , Muhammad Alhaji Yakubu and representative of President of Supteme Council for Sharia in Nigeria , Professor Mohammed Bello Dogarawa , debunked the insinuation that the North was against the reform bills .
Specifically , the Convener of Arewa Think Tank said ” It is not true that the North is against the tax reform bills . We have seen the benefits and sensitized our people in the North on them “.
Earlier in his remarks before declaring the public hearing open , the President of the Senate said : ” The challenge before us transcends the simple act of passing new laws; it is about constructing a tax system that inspires confidence, promotes development, and fuels national growth. We cannot afford to be fragmented in our approach to revenue generation. Instead, we must come together—Federal, State, and Local Governments, alongside the private sector and civil society—to create a tax system that truly works for all”
Other Critical stakeholders like the Executive Chairman of Federal Inland Revenue Service ( FIRS) , Mr Zacch Adedeji , the Governor of the Centeal Bank of Nigeria , Yemi Cardoso ,the Comptroller – Generals of Nigeria Customs Service and Nigeria Immigration Service , will remark at the session on Tuesday .
Meanwhile, President of Senate, Godswill Akpabio has urged Nigerians to embrace the tax reform bills, saying that reforming Nigeria’s tax administration was the country’s future prosperity.
Akpabio said this in Abuja on Monday at the beginning of a two-day public hearing organised by the Senate Committee on Finance on the proposed four tax reform bills.
The News Agency of Nigeria (NAN) reports that the four Bills are; The Nigeria Tax Bill 2024, The Nigeria Tax Administration Bill 2024, The Nigeria Revenue Service Establishment Bill 2024 and the Joint Revenue Board Establishment Bills 2024.
Akpabio in his speech titled, “New Dawn Embracing Tax Reform for a Prosperous Nigeria”, said the public hearing was a transformative step forward in the nation’s collective journey toward economic renewal and prosperity for all Nigerians.
He said the public hearing was a profound responsibility that stakeholders must embrace with courage, wisdom and a steadfast commitment to the Nigerian people.
He said as Nigerians look into the future, they must remember that a nation that fails to adapt its revenue system to the realities of the time risks stagnation and decline.
Akpabio said Nigeria had chosen to leave behind out-dated tax practices and bureaucratic hurdles, to a tax administration that would be robust, transparent and conducive to business.
He said the public hearing represents more than a legislative requirement, saying that it was a call to collective action.
According to him, the public hearing is a platform for dialogue where lawmakers, tax administrators, businesses operators and citizens come together to craft a fair, transparent and effective tax regime that reflects the interests of all.
He said the four bills sought to harmonise revenue administration across all tiers of government.
“The bills seek to reduce the cost of tax collection and enhance compliance, foster transparency, accountability and efficiency in tax administration.”
According to him, the bill will introduce digital innovations to simplify tax payments and close loopholes, while ensuring fairness, protect vulnerable taxpayers and create an environment ripe for economic growth.
“We cannot afford to be fragmented in our approach to revenue generation, instead, we must come together, as Federal, State and Local Governments, alongside the private sector and civil society to create a tax system that truly works for all.”
He said the 10th National Assembly was fully committed to enacting legislative reforms that would strengthen the nation’s economic foundation, empower businesses and enhance accountability within the government.
“The success of this public hearing hinges on your active engagement and I encourage all stakeholders to contribute meaningfully to this dialogue.
“Let us use this moment, not just for ourselves, but for future generations, to lay the foundation for a stronger, more resilient and prosperous Nigeria.”
Chairman of the Committee, Sen. Sani Musa said the committee acknowledges concerns about marginalisation, disproportionate sharing and possible biases in tax administration and revenue allocation.
He, however, assured that the process of the tax reform would be thorough, inclusive and guided by national interest.
He said the National Assembly’s goal was to develop a tax framework that promotes economic prosperity, encourages investment and strengthen fiscal sustainability.
He also said that transparency, fairness and inclusivity would be the guiding principles throughout the process.
He said the bills aimed to simplify tax compliance, improve revenue collection and eliminate inefficiencies.
Sani urged all stakeholders, tax professionals, civil society organisations and the general public to actively contribute to the discussion, saying that their inputs were vital in shaping a tax regime that works for Nigerians.
The Minister of Finance and Co-ordinating Minister of the Economy, Mr Wale Edun said there was need for the all-important reforms in the nation’s tax administration, given the need to improve revenue generation for infrastructure development and economic growth.
He said the public hearing would give opportunity for stakeholders to make inputs and be carried along in the process.
The News Agency of Nigeria (NAN) reports that the event was attended by some revenue generating agencies such as Nigeria Custom Service,(NCS), Federal Inland Revenue Service (FIRS) and Nigerian National Petroleum Company Limited (NNPCL).
Others are Nigerian Immigration Service,(NIS) among other organisations , tax related NGOs and associations.
