Akwa Ibom Residents Urged To Support Tax Reforms

National Orientation Agency (NOA) has enjoined Akwa Ibom State residents to be in the vanguard of supporting the ongoing tax reforms aimed at retooling the economy along the path of financial transparency for better fiscal systemic management.

The state director of the agency, Mr Mkpoutom Mkpoutom, in a media interaction in Abak local government area at the weekend, explained that “the new tax reforms is a crucial milestone in the economic development of the nation, signalling government’s intent to enhance revenue generation, improve transparency, and create a fairer system for both taxpayers and the state.”

“This tax reform holds significant promise for the country’s fiscal stability and growth,” he stated.

Mr Mkpoutom noted that Nigeria’s tax system has historically faced challenges such as a narrow tax base, tax evasion, poor compliance, and inefficient tax collection.

“These challenges have over the years limit government revenue, constraining funding for infrastructure, social services, and development projects”, he noted.

The state director highlighted some of the objectives of the new tax reforms to include, to boost non-oil revenue to reduce dependence on oil, broaden the tax base while easing the burden on low-income earners, promoting fairness by ensuring higher earners pay more and to simplify tax laws to reduce confusion and multiple taxation.

Also, he listed others as strengthening tax administration through digital systems, improved support for MSMEs and promoting sustainable business growth, reduce government borrowing and align with global tax standards.

The NOA chief, therefore, stressed the urgent need to create widespread awareness about the new tax reforms. He observed that many citizens remain uninformed about the changes, their rights, and obligations under the new system and that this knowledge gap can lead to resistance, misinformation, and underperformance of the reform’s objectives.