….As stakeholders throw weight behind proposed bills

Four months after forwarding to both Chambers of the National Assembly , the tax reform bills for consideration and passage , President Bola Tinubu has told the Senate to give him workable laws from the bills .

This is as various stakeholders in the polity , threw their weights behind the hitherto contentious 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 .

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 Chaorman 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 .