December 02, (THEWILL) – The Presidency has assured Nigerians that the tax reform bills currently before the National Assembly are designed to streamline the country’s tax system and enhance the quality of life for citizens, particularly the disadvantaged, rather than impoverishing any region or destroying the economy of the North.
Special Adviser to the President on Information and Strategy, Bayo Onanuga, clarified this in a statement on Monday.
He dismissed claims that the bills propose the dissolution of critical agencies such as the National Agency for Science and Engineering Infrastructure, Tertiary Education Trust Fund, and the National Information Technology Development Agency.
President Bola Tinubu transmitted the four tax reform bills to the National Assembly on October 13, based on recommendations by the Presidential Committee on Fiscal and Tax Reforms led by Taiwo Oyedele. The bills aim to revise outdated tax laws and harmonize revenue collection.
While the Senate has advanced the bills to the second reading, the House of Representatives has postponed further debate to allow additional consultations following opposition from northern governors and stakeholders.
Onanuga refuted allegations that the bills would disadvantage northern states or favour states like Lagos and Rivers.
“The tax reform bills will not destroy the economy of any section of the country. Instead, they aim to enhance the quality of life for Nigerians, especially those struggling to make a living,” he stated.
He also addressed concerns about the future of agencies such as NASENI, TETFUND, and NITDA.
Contrary to public misinterpretations, Onanuga emphasised that the bills merely propose consolidating certain earmarked taxes into a single levy, which would be distributed to these agencies in phases until 2030.
“The time frame allows these agencies to explore alternative funding sources, alongside constitutional budgetary allocations, in line with international best practices,” he explained.
Onanuga highlighted the need to eliminate Nigeria’s complex and burdensome tax system, which he argued discourages investment and hampers business growth.
“For decades, businesses have faced multiple taxes that make Nigeria uncompetitive for investments. This has led many companies to relocate to other countries. The proposed reforms aim to simplify the tax system and create a more conducive environment for businesses to thrive,” he said.
Tinubu, according to Onanuga, welcomes the robust public discourse on the tax bills and urges stakeholders, including governors, traditional rulers, civil society groups, and trade associations, to participate in the upcoming public hearings organized by the National Assembly.
“It is essential that discussions on these bills are grounded in facts rather than emotions. Leaders must avoid making inflammatory statements that could polarize the country or mislead the public,” Onanuga cautioned.
He reiterated that the tax reform bills are pivotal to achieving Nigeria’s economic growth and development goals, emphasising the need for stakeholders to embrace the reforms to build a stronger and more equitable fiscal system.
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