Kehinde Fajobi
Senate President Godswill Akpabio has dismissed criticism of President Bola Tinubu’s four proposed tax bills, saying detractors fail to grasp the reforms’ significance.
Akpabio made the statement on Wednesday during President Tinubu’s presentation of the 2025 budget estimates to the National Assembly.
He commended the administration’s “groundbreaking tax reform initiative,” describing it as a milestone in Nigeria’s fiscal history.
“The four tax reform bills—the Joint Revenue Board of Nigeria (Establishment) Bill, 2024; Nigeria Revenue Service (Establishment) Bill, 2024; Nigeria Tax Administration Bill, 2024; and Nigeria Tax Bill, 2024—represent a monumental shift in our fiscal landscape,” Akpabio stated.
He criticised those opposing the bills without proper understanding, urging public officials and Nigerians to engage thoughtfully with the proposed measures.
“It is disheartening that those who have not taken the time to understand these bills are the loudest critics. I urge all Nigerians, especially those in public office, to engage with these vital reforms thoughtfully.
“This initiative marks the first comprehensive tax reform since Nigeria’s independence, presenting a transformative opportunity for rejuvenating small and medium enterprises and enhancing the livelihoods of ordinary Nigerians,” he added.
Akpabio also highlighted the broader benefits of the reforms.
“These reforms will not only improve Nigeria’s revenue profile but also create a more conducive and internationally competitive business environment, transforming our tax system to support sustainable development,” he said.
The proposed tax bills are part of Tinubu’s strategy to overhaul Nigeria’s tax system and boost economic growth.