National Assembly Will Support Tax Reform Bills – Akpabio

• Senate President Godswill Akpabio assured Nigerians that the National Assembly will not dismiss tax reform bills despite widespread criticism and opposition
• Akpabio emphasized the significance of the proposed tax reforms, urging public engagement to understand their potential benefits for Nigeria’s economy

Senate President Godswill Akpabio has assured Nigerians that the National Assembly will not dismiss the controversial tax reform bills despite widespread criticism.

He emphasized that the backlash stems from a lack of understanding of the proposed legislation.

In October 2024, President Bola Ahmed Tinubu transmitted four tax reform bills to the National Assembly for consideration. These include:

• The Joint Revenue Board of Nigeria (Establishment) Bill, 2024
• The Nigeria Revenue Service (Establishment) Bill, 2024
• The Nigeria Tax Administration Bill, 2024
• The Nigeria Tax Bill, 2024

The bills have faced opposition from governors, federal lawmakers, traditional rulers, civil society organizations, and the general public.

Speaking during the presentation of the 2025 budget by President Tinubu at the National Assembly in Abuja, Akpabio addressed the criticism, calling the tax reform initiative a “groundbreaking” effort.

In his opening remarks, Akpabio said, “Your Excellency, we commend you for this groundbreaking tax reform initiative. These four tax reform bills represent a monumental shift in Nigeria’s fiscal framework.

“It is disheartening that the loudest critics of these bills are those who have not taken the time to understand their significance. I urge all Nigerians, especially those in public office, to thoughtfully engage with these reforms.

“This initiative marks Nigeria’s first comprehensive tax reform since independence. It provides a transformative opportunity to rejuvenate small and medium enterprises and improve the livelihoods of ordinary Nigerians.

“These reforms will not only enhance Nigeria’s revenue profile but also create a business environment that is more conducive and competitive internationally, ensuring sustainable development.

“We will not reject any reform forwarded to us by the President. Instead, we will work to help Nigerians see the merits in them.”

In his closing remarks, Speaker of the House of Representatives, Hon. Tajudeen Abbas, reiterated the commitment of the National Assembly to support the President’s reform agenda through necessary legislative backing.

These tax reforms are expected to modernize Nigeria’s tax system, increase revenue generation, and stimulate economic growth.