The Presidency has dismissed claims that the proposed Tax Reform Bills will disproportionately benefit states like Lagos and Rivers while impoverishing northern regions.
In a statement released on Monday by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, the Presidency described such assertions as misleading and reckless, emphasizing that the bills aim to improve the quality of life for all Nigerians, especially the disadvantaged.
“Instead, they aim to enhance the quality of life for Nigerians, especially the disadvantaged, who are trying to make a living,” the statement read.
Onanuga expressed concern over the misinformation being circulated by some political actors, accusing them of polarizing the debate. “Since the public debate around the transformative tax bills before the National Assembly began in the last few weeks, various political actors and commentators have tried to obfuscate the facts, deliberately misinforming and misleading the public,” he said.
The statement refuted claims that the bills would make wealthier states richer at the expense of others. “The tax reform bills will not make Lagos or Rivers more affluent and other parts of the country, as recklessly canvassed, poorer. The bills will not destroy the economy of any section of the country,” Onanuga asserted.
Read also: NLC demands transparency, inclusion in PENCOM operations
Addressing concerns about the potential cessation of key government agencies such as NASENI, TETFUND, and NITDA by 2029, the Presidency clarified that these agencies would continue to operate but would transition to alternative funding sources.
“Contrary to the lies being peddled, the bills do not suggest that NASENI, TETFUND, and NITDA will cease to exist in 2029 after the passage of the bills,” the statement clarified. “The proposal only seeks to consolidate some of the earmarked taxes imposed on companies and replace them with a single tax to be shared with the key agencies as beneficiaries in a phased manner until 2030.”
This adjustment, the Presidency noted, is intended to streamline tax administration, reduce the burden on businesses, and create a more conducive environment for investment.
“For decades, businesses, investors, and private sector players in Nigeria have complained of being overburdened by a myriad of taxes and levies, including those earmarked to fund various government agencies and initiatives. The multiple taxes complicate the economic environment, making Nigeria noncompetitive for investment,” the statement explained.
Highlighting the need for reform, the Presidency emphasized that consolidating taxes would eliminate inefficiencies while ensuring that critical agencies continue to receive funding. “Imposing a separate tax to fund an agency is an aberration that has yet to yield results despite the huge burden on businesses. The tax bill seeks to address this problem,” the statement said.
The Presidency also called for informed and constructive debate on the issue, urging stakeholders to educate themselves about the bills before making public statements. “We may be entitled to our opinions, but such views must be informed and based on facts, not emotions targeted at inflaming passions,” Onanuga stated.
President Bola Tinubu welcomed the robust public interest the bills have generated and encouraged stakeholders to engage in the upcoming public hearings to share their perspectives.
“He encourages leaders across the country, including Governors, Traditional rulers, Civil Society Activists, Students, trade associations, professional associations, and the general public, to take advantage of the Public Hearings that the National Assembly will organise to present their views on how best to reform our taxes and fiscal regime,” the statement added.
The Presidency underscored the urgency of updating Nigeria’s tax laws, describing them as outdated and counterproductive to the nation’s growth and development goals. “What is never in doubt is the imperative of changing the existing tax laws and administration that have become obsolete and unhelpful in achieving the growth and development we desire for our country,” the statement concluded.
The post Tax Reform Bills aim to benefit all Nigerians, Presidency assures appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.