Nigeria’s Progress at Stake: Okupe Criticizes Tax Reform Opponents
Former presidential spokesman Dr. Doyin Okupe has labeled opponents of Nigeria’s proposed Tax Reform Bills as “enemies of the country,” emphasizing that these reforms are designed to benefit the economically disadvantaged and promote national development.
In an interview, Okupe highlighted key aspects of the reforms:
- Tax Exemptions for Low-Income Earners: The bills propose that the majority of poor individuals should not pay taxes, aiming to alleviate financial burdens on the economically vulnerable.
- Profit-Based Corporate Taxation: Companies would be taxed based on their profits rather than turnover, with businesses earning below ₦50 million exempted, fostering a more equitable tax system.
Okupe dismissed opposition from certain northern leaders, who argue that the reforms favor economically prosperous southern states, potentially deepening regional disparities. He contended that the current reliance on oil revenue is unsustainable and that a reformed tax system is essential for funding national development.
He also praised the Federal Inland Revenue Service (FIRS) for recent achievements in revenue generation but noted that Nigeria’s tax-to-GDP ratio remains among the lowest globally.
Okupe urged the government to adopt technology to combat corruption within revenue-generating agencies, expressing confidence that President Bola Tinubu’s commitment to transformative reforms would significantly reduce corruption once implemented.
President Tinubu submitted the Tax Reform Bills to the National Assembly on October 3, aiming to streamline Nigeria’s tax system and enhance government revenue. The bills are currently under deliberation, with debates highlighting the nation’s regional economic disparities.