President Bola Ahmed Tinubu‘s plan to reform Nigeria’s tax laws got a boost yesterday, with Ohanaeze Ndigbo, the apex socio- cultural organisation from the South-east joining the South-west, South-south and North-central parts of Nigeria to support the landmark bills expected to significantly alter the existing fiscal framework.
Wading into the debate on the much-talked-about proposed legislations, Ohanaeze Ndigbo, in a statement issued by the Secretary General of the body, Okechukwu Isiguzoro, noted that the bills represent a transformative opportunity for the rejuvenation of Small Medium Enterprises (SMEs) and the enhancement of the fortunes of Nigerian workers.
But the controversy over the four tax bills continued yesterday, with former Vice President Atiku Abubukar, however urging federal lawmakers to prioritise equity and inclusivity in deliberations on the proposed legislations.
The presidential candidate of the Peoples Democratic Party (PDP) in the 2023 general elections emphasised that Nigerians are currently united in their demand for reforms that do not exacerbate the nation’s uneven development.
THISDAY learnt that federal lawmakers from the South-west, South-south and North-central were already in on the need to alter the current framework to serve the generality of Nigerians.
The bills have recently received mixed reactions from members of the public, as the gulf between the proponents and those opposed to the bills, especially the part dealing with the derivation formula in Value Added Tax (VAT) has widened.
Among key figures that have publicly spoken on the issue are the Deputy Senate President, Barau Jibril, who opined that those criticising the tax bills had not even read them.
However, the Governor of Borno State, Prof. Babagana Zulum, who had earlier raised the alarm that the tax bills will further pauperise the northern states, speaking during an interview on a national television yesterday, doubled down on his opposition to the proposed legislations.
In backing the federal government’s move, the Isiguzoro-led Ohanaeze Ndigbo added that by eliminating the scourge of double taxation imposed by state governors, the reforms would pave the way for an equitable business climate that significantly elevates both local and foreign investment potential.
