The President of the Senate, Godswill Akpabio, has reassured Nigerians that the National Assembly, particularly the Senate, will modernize and optimize Nigeria’s tax system to enhance the country’s revenue generation capacity for sustainable economic growth.
Akpabio gave this assurance while welcoming stakeholders at a two-day public hearing on the proposed tax reform bills, describing the initiative as a transformative step toward economic renewal and prosperity for all Nigerians.
“This is not just a task; it is a profound responsibility that we must embrace with courage, wisdom, and a steadfast commitment to the Nigerian people,” Akpabio stated. “As we look to the future, we must remember that a nation that fails to adapt its revenue system to the realities of our time risks stagnation and decline.”
Quoting an old African proverb, Akpabio explained: “A bird that does not leave its nest will never know the richness of the forest,” emphasizing that this moment signifies a deliberate choice to move beyond outdated tax practices and bureaucratic hurdles, spreading our wings toward a tax administration that is robust, transparent, and conducive to business.
He added that this public hearing represents more than just a legislative requirement; it is a call to collective action, a platform for dialogue where lawmakers, tax administrators, businesses, and citizens come together to craft a fair, transparent, and effective tax regime that reflects the interests of all Nigerians.
The president of the senate assured that the proposed bills would, Harmonize revenue administration across all tiers of government, Reduce the cost of tax collection and enhance compliance, Foster transparency, accountability, and efficiency in tax administration.
It also introduces digital innovations to simplify tax payments and close loopholes, ensure fairness, protect vulnerable taxpayers, and create an environment ripe for economic growth.
He 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.”
Godswill Akpabio assures that the 10th National Assembly was fully committed to enacting legislative reforms that would strengthen our economic foundation, empower our businesses, and enhance accountability within our government.
He added that the success of this Public Hearing hinges on your active engagement, and encouraged all stakeholders to contribute meaningfully to this dialogue.
The Chairman of the Senate Committee on Finance, Senator Sani Musa, said the reform is not just about taxation but about achieving economic prosperity.
He emphasized that President Bola Ahmed Tinubu has stressed the importance of consultation and dialogue, ensuring that all gray areas are properly addressed.
Senator Sani Musa further stated, “As you can witness today, the public hearing has proceeded smoothly, without significant accusations and counter-accusations, unlike what we initially expected. Generally, Nigerians have unanimously agreed with the reforms because some of the existing laws are obsolete and need to be reviewed.”
He assured that they would look at all the submissions and make good use of the meaningful suggestions for the benefit of the Country’s economy and economic prosperity of Nigerians.
Similarly, the Director General of the Northern Elders forum Prof. Doknan Sheni explained that in their submission they welcome the reform but the VAT revenure sharing should be look in to again for the benefit of Norther states.
Also in their submission, the Chartered Institute of Taxation of Nigeria through its Deputy vice president Simon Kato said they all supported the bills but emphasized the need to review the tax agents arguing that not every one can be employed to be tax agent rather a skilled person.
He also welcomed the idea, stating that most of the tax laws are obsolete and need to be reviewed.
Simon Kato noted that this presents a valuable opportunity for such revisions at this time, and that the reforms would challenge tax professionals to be more diligent and proactive in their profession.
The Arewa Think Tank Group, led by Muhammad Alhaji Yakubu, also supported the bills.
According to him, the reforms will bring relief to poor Nigerians, however, he appealed to the committee to prioritize the interests of Nigerians in the final report, as emphasized by the President of the Senate, Godswill Akpabio, in his opening remarks.
COV/Bashir M
