The Senate President, Senator Godswill Akpabio, has disclosed that not more than 30% of Nigerians pay tax to the federal government, despite high expectations for improved infrastructure, education, and security.
Akpabio stated this yesterday in Abuja while declaring open the public hearing on foue tax reform bills forwarded to the National Assembly on October 3, 2024, by President Bola Tinubu.
He emphasised the necessity of the reforms, stating that Nigeria could not afford to continue on the same path without change.
He stressed that once the bills were passed, the National Assembly would intensify oversight to ensure government resources were judiciously managed.
He urged Nigerians to thoroughly review the bills rather than rely on social media for information, lamenting that many leaders criticised the proposed legislations without understanding the content of the bills.
“I am staying for two days to participate because I am tired of social media,” Akpabio remarked. “Many leaders attack the process without even reading the bills.”
Earlier, the chairman of the Senate committee on Finance, Senator Sani Musa (APC, Niger East), highlighted that the hearings would soon address the Joint Revenue Board Establishment Bill and the Nigerian Revenue Services Bill.
He stated that 71 different stakeholder groups were invited to participate.
“Both the Senate and the House of Representatives have completed the second reading of the reform bills and are now conducting public hearings,” Musa said. “The bills aim to enhance tax administration, collection, and overall revenue operations in Nigeria.”
Musa emphasised that the purpose of the tax reform bills was to boost government revenue, enabling Nigeria to achieve economic advancements comparable to developed nations.
He underscored the importance of robust infrastructure, education, agriculture, and other critical sectors.
The tax reform bills under review include the Nigeria Tax Bill (NTB) 2024, the Nigeria Tax Administration Bill (NTAB) 2024, the Nigeria Revenue Service (Establishment) Bill (NRSEB) 2024, the Joint Revenue Board (Establishment) Bill (JRBEB) 2024.
LEADERSHIP recalls that the bills were passed for a second reading in the Senate on November 28, 2024, and forwarded to its Standing Committee on Finance for further legislative scrutiny which began on Monday at the public hearing.
Among the attendees at the public hearing were the Minister of Finance and Coordinating Minister of the Economy, Wale Edun; Attorney-General of the Federation, Lateef Fagbemi (SAN); Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, and Comptroller-General of the Nigeria Customs Service (NCS).
We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →
Join Our WhatsApp Channel
