Northern Elders Warn: Tax Reform Bill May Trigger Socioeconomic Crisis

Impact of Tax Reform Bill: Northern Elders’ Dire Socioeconomic Predictions

The Northern Elders Forum (NEF) has raised concerns over the proposed tax reform bill by the Nigerian government, warning that it could lead to a socioeconomic crisis if implemented in its current form.

According to the group, the bill places an undue financial burden on already struggling citizens and businesses, particularly in northern Nigeria, where poverty and unemployment rates are disproportionately high.

In a recent statement, the NEF criticized the government for failing to consider the economic realities faced by many Nigerians.

They argued that increasing taxes or introducing new levies without adequate measures to cushion the impact could exacerbate inequality and heighten social unrest.

The group called on the government to adopt a more inclusive approach by engaging stakeholders, including state governments, traditional leaders, and economic experts, to design policies that would drive growth without harming the poor.

They also urged a focus on addressing systemic corruption and inefficiencies in tax collection rather than overburdening compliant taxpayers.

This pushback adds to the growing opposition from various quarters over the proposed reforms, with critics emphasizing the need for fiscal policies that balance revenue generation with social welfare.