Tax Reform Bills: Akpabio Seeks Nigerians’ Supports
…Says We Want Better Country For Future Generations
By Raphael Ekpang
Abuja (Core Reporters) The President of the Nigerian Senate, Godswill Akpabio has called for supports from Nigerians to enable the national assembly carried out tax reforms that will not only befit the nation at present but carter for our future generations.
Akpabio made the call on Monday in Abuja while declaring open a two-day public hearing on a Joint Revenue Board Bill, SB. 583; Nigeria Revenue Service Establishment Bill, SB, 584, 2024; Nigerian Tax Administration Bill, SB. 585, 2024 and Nigeria Rax Bill, SB. 586.
He noted that many of our laws are outdated, with some dating back to the colonial era. However, he mphasized the need for Nigerians to embrace legal and structural reforms to drive national development.
The former Akwa Ibom State governor and Minister of Niger Delta who spoke passionately on the need for a better Nigeria stressed that the interests of Nigerian citizens remain the top priority in legislative decision-making.
According to him, “Nigerians must believe in the rule of law and its enforcement. If we want to get it right, we must support the National Tax Reform Bill, which aims to improve infrastructure, water resources, job creation, and other key sectors,” he said.
“Our responsibility is to ensure that every Nigerian benefits from the laws we enact. Resource mobilization for development is not the sole responsibility of the government; it requires the collective efforts of all Nigerians,” he said.
The Senate President pointed out that the current tax laws in the country are no longer align with modern economic realities as such the need for Amendmencourse new laws. new laws.
“Some of our taxation laws were established during the colonial era. There is an urgent need to update them to meet present-day challenges,” he said.
He commended President Bola Tinubu for recognizing the importance of legal reforms and aligning them with global economic trends.
“Reforms can sometimes be difficult to grasp, but they are necessary. President Tinubu is considering Nigeria’s past, present, and future in shaping policies that align with global economic indicators,” Akpabio added.
The bills are to harmonize revenue administration across all tiers of government. Reduce the cost of tax collection. Enhance transparency and accountability in tax administration. And Introduce digital innovations to streamline tax processes.
Akpabio added that the bills are designed to create a more efficient tax system that fosters economic growth while easing the burden on businesses.
“This tax regime is crucial for Nigeria’s development. We need to eliminate outdated tax practices and bureaucratic inefficiencies that stifle business growth,” he stated.
“The success of this hearing will assist the National Assembly in crafting legislation that reflects the interests of all Nigerians,” Akpabio said.
Core Reporters understand that the administration of President Bola Ahmed Tinubu is leaving no stone unturned to make sure Nigeria is reformed within his period as the president and part of the ways to do that is to carry out reforms on areas that affect the nation’s progress directly which Tax Reforms lead the way.
Core Reporters report that over thirty five senators including over five principal officers of the senate graced the public hearing, as the venue was filled to it brim with stakeholders from across the country and all worth of lives.
