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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.

“In an emphatic affirmation of progress and economic empowerment, Ohanaeze Ndigbo, the esteemed apex socio-cultural organisation representing the Igbo nation, hereby announces its steadfast endorsement of President Bola Ahmed Tinubu’s proposed tax reforms bills.

“This endorsement comes after rigorous reviews, exhaustive consultations with an array of stakeholders, and an in-depth analysis of the bills’ implications for the Nigerian economic landscape.

“Our comprehensive evaluation has led us to the resolute conclusion that these tax reforms are not merely legislative proposals; they represent a transformative opportunity for the rejuvenation of SMEs and the enhancement of the fortunes of Nigerian workers.

“By eliminating the scourge of double taxation imposed by unscrupulous state governors, these reforms will pave the way for an equitable business climate that significantly elevates both local and foreign investment potential.

“The Igbo people, renowned for our entrepreneurial spirit and unwavering commitment to economic self-determination, stand to gain immensely from these reforms,” Isiguzoro argued.

According to him, the proposed measures are expected to safeguard the private sector, particularly benefiting the ‘industrious Igbos’, who he said play a pivotal role in driving the Nigerian economy through vibrant SME activities.
The apex Igbo body further called on southern lawmakers in the National Assembly to unify their efforts in support of what it described as Tinubu’s transformative restructuring programme within Nigeria’s economic and fiscal sectors.

Ohanaeze Ndigbo emphasised: “It is disheartening to observe the substantial opposition that has emerged from certain factions within Northern Nigeria regarding these critical reforms.

“There is palpable concern that Northern governors are mobilising their forces to stifle the progression of the tax reforms bills within the National Assembly, relying on their numerical predominance to assert undue influence.

“This orchestrated opposition appears driven by a desire to perpetuate the current VAT derivation principles that unjustly favour select interests at the expense of equitable national growth.

“The implications of such manoeuvres are profound. If the Northern political elites succeed in thwarting President Tinubu’s initiatives, it could set a dangerous precedent, fostering a climate of resistance against meaningful reform.
“This scenario poses a tangible threat not only to the president’s agenda but also to the broader economic aspirations of millions of Nigerians who yearn for a reformed and equitable system.”

The body further urged all stakeholders, including lawmakers, business actors, and citizens to unite in support of these pivotal tax reforms bills.
“It is imperative that our Southern Senators and House Of Representatives members close ranks, transcending partisan divides, to ensure that the Tax Reforms Bills navigate both chambers of the National Assembly successfully.

“We wish to reiterate our unwavering commitment to show solidarity with President Tinubu, as we expect that the Southeast Federal Lawmakers will provide essential backing to these initiatives.

“This collective support is particularly noteworthy as it underscores our strategic alignment with the President following our decision to abstain from nationwide protests in August 2024, a decision made in the spirit of dialogue and cooperation,” it stated.

On the opposition from some leaders in the northern region against the proposed tax reforms, Ohanaeze submitted that the northerners are only trying to frustrate the bill because the status quo favours their selfish interest at the expense of national growth.
It urged all stakeholders to support the proposals as it promises sustainable economic growth towards a prosperous Nigeria.

“Nonetheless, it is disheartening to observe the substantial opposition that has emerged from certain quarters within Northern Nigeria regarding these critical reforms.

“There is palpable concern that Northern governors are mobilizing their forces to stifle the progression of the Tax Reforms Bills within the National Assembly, relying on their numerical predominance to assert undue influence.
“This orchestrated opposition appears driven by a desire to perpetuate the current VAT derivation principles that unjustly favor select interests at the expense of equitable national growth.

“The implications of such maneuvers are profound. If the Northern political elites succeed in thwarting President Tinubu’s initiatives, it could set a dangerous precedent, fostering a climate of resistance against meaningful reform. This scenario poses a tangible threat not only to the President’s agenda but also to the broader economic aspirations of millions of Nigerians who yearn for a reformed and equitable system.

“Moreover, it cannot be overlooked that a successful passage of the Tax Reforms Bills could have far-reaching consequences for President Tinubu’s administration, potentially inciting a politically motivated backlash in the 2027 electoral landscape. It is essential that we, as a nation, confront these challenges decisively, fostering a collaborative spirit to advance our collective interests rather than allowing parochial motivations to derail our progress.

“In conclusion, Ohanaeze Ndigbo urges all stakeholders, including lawmakers, business actors, and citizens, to unite in support of these pivotal Tax Reforms Bills.

“The promise of a prosperous and just Nigeria is within our reach, but it demands our collective resolve to advocate for transparency, equity, and sustainable economic growth.

“Together, let us champion an agenda that uplifts all Nigerians and ensures that our legislative processes reflect the aspirations of a nation committed to progress and integrity,” the statement concluded.

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paramakina202:
You mean APC one man faction of Ohanaeze Ndi Igbo?

emkz:
Taiwo Oyedele was partner at PWC and Africa Tax Leader before he was made Chairman of Presidential Committee on Fiscal Policy and Tax Reforms. Zach Adedeji graduated first class from OAU and rose to corporate finance manager in a multinational.

I have only one request: those opposing the tax bill need to come out and debate them.

If they have the balls.

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When a man's ways pleases the Lord, he makes even his enemies to be at peace with him.


After God, na Tinubu 💪 God bless Nigeria

PressMyButton:
When a man's ways pleases the Lord, he makes even his enemies to be at peace with him.


After God, na Tinubu 💪 God bless Nigeria

VillageOracle00:
I regret 1 thing

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