President Bola Tinubu has affirmed his commitment to allowing the legislative process to determine the fate of Nigeria’s new tax reform bills, emphasizing that public hearings will provide a platform for stakeholders to contribute their perspectives.
This decision follows a recommendation from the National Economic Council (NEC), led by Vice President Kashim Shettima and all 36 state governors, urging the President to withdraw the bills for further consultation.
In a statement from the State House, President Tinubu expressed gratitude to the NEC for its input, while reinforcing his stance that the legislative journey should proceed uninterrupted.
“The legislative process, which has already begun, provides an opportunity for inputs and necessary changes without withdrawing the bills from the National Assembly,” President Tinubu asserted.
The proposed tax reform bills are the product of extensive efforts by the Presidential Committee on Tax and Fiscal Policy Reform, established by President Tinubu in August 2023.
The committee worked for over a year, engaging various sectors, including trade associations, professional bodies, state and federal agencies, as well as the organized private sector.
The goal, as President Tinubu noted, is to “reposition the economy for better productivity and efficiency and make the operating environment for investment and businesses more conducive.”
These tax reform bills, now under review by the National Assembly, focus on streamlining tax administration and aligning Nigeria’s tax system with global standards.
Key proposals include eliminating multiple taxation, unifying tax processes across federal, state, and local levels, and establishing a Joint Revenue Board to replace the current Joint Tax Board, with an Office of Tax Ombudsman to safeguard taxpayer rights.
“The bills aim to effectively coordinate federal, state, and local tax authorities, thereby eliminating the overlapping responsibilities, confusion, and inefficiency that have plagued tax administration in Nigeria for decades,” said Bayo Onanuga, Special Adviser to the President on Information & Strategy.
While the path to reform may differ among stakeholders, President Tinubu’s administration remains resolute in its mission to modernize Nigeria’s tax framework to support national development
