Akpabio on Tax Reform: The Critics Who Missed the Basics
Senate President Godswill Akpabio has criticized critics of the four tax reform bills transmitted to the National Assembly by President Bola Tinubu, stating that those who have not taken the time to understand the proposed initiatives are the loudest critics.
He emphasized that these bills represent a monumental shift in Nigeria’s fiscal landscape and urged all Nigerians, especially those in public office, to engage with these vital reforms thoughtfully.
Akpabio highlighted that 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 further stated that these reforms will not only improve Nigeria’s revenue profile but also create a more conducive and internationally competitive business environment, transforming the tax system to support sustainable development.
The four tax reform bills are:
- Joint Revenue Board of Nigeria (Establishment) Bill, 2024
- Nigeria Revenue Service (Establishment) Bill, 2024
- Nigeria Tax Administration Bill, 2024
- Nigeria Tax Bill, 2024
These bills are currently under consideration in the National Assembly.