Presidency Speaks On Adjusting Tax Reform Bills

President Bola Tinubu’s government has reaffirmed its dedication to adhering to due process concerning the tax reform bill currently being evaluated by the National Assembly.

Speaking during a television programme, the Special Adviser to the President on Communication and Orientation, Sunday Dare, underscored that the President is operating within legal parameters by permitting the legislative process to influence the bill’s advancement.

He noted that the tax reform bill, once enacted, will be instrumental in transforming critical sectors of Nigeria’s economy. Nevertheless, he pointed out that, while the bill is still under legislative scrutiny, it remains subject to dialogue and modifications.

The Presidential aide urged citizens and stakeholders to participate constructively in the discussions as the National Assembly deliberates on the bill, emphasizing the administration’s openness to diverse viewpoints.

Dare, while speaking on Channels TV on Sunday, said, “I think it’s absolutely important, because when you look at the four bills right now, at the National Assembly, and they are just bills, they’re not acts yet, that means there’s still an opening to have conversations around the bills, take out some things, readjust certain elements of it, and bring it back.

“I think it’s a remarkable bill and it’s critical for the reforms, the larger reforms in various sectors that the President is working on. When you look at the Nigerian tax bill, the overall bill. You look at the joint tax bill, you look at that for revenue, then you look at the tax administration.

“The President’s preference is to have a de jure approach to it, not a de facto, because even if you do it outside of the legislature, then he must have contravened Nigeria’s constitution. So being a president that understands the law and the Constitution says it’s already there, let’s have the representatives of the people from across the country, let them deliberate on it.

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“The people, the governors, Nigerians, can send in whatever comments they have, whatever deviation they have, and then that can be processed, I think that is the best way.

“I think it’s the right way to go, because any other path will bring a crisis, when you look at the tax very well, it targets posterity, not poverty. Look at the revenue tax, for instance, you can keep 100% of the taxes within your domain, that brings about control of your taxes, but also a level of responsibility at the level of state.”

Dare elaborated that developed countries, which were once comparable to Nigeria, implemented challenging tax reforms that significantly contributed to their economic transformation.
He stated that Nigeria is now following a similar path toward economic growth with the introduction of the Tax Reform bill.