Arewa youths back Senate on passage of Tinubu’s Tax Reforms Bills for second reading

Arewa youths back Senate on passage of Tinubu’s Tax Reforms Bills for second reading

 A Northern youth association, Arewa Grassroots Network
(AGN), has backed the Nigerian Senate on the passage of President Bola Tinubu’s
Tax Reforms Bills for second reading.

 

The Tax Reforms Bills, comprising the Nigeria Tax Bill 2024,
Tax Administration Bill, Nigeria Revenue Service Establishment Bill, and Joint
Revenue Board Establishment Bill, aim to provide a comprehensive framework for
taxation in Nigeria.

 

The controversial bills, which have been rejected by
Northern leaders, was passed for second reading through voice vote on Thursday, despite
spirited opposition by Senator Ali Ndume.

 

Sponsor of the bills, Senate Majority Leader Bamidele
Opeyemi, had, while explaining the general principles of the proposed
legislation, noted that if passed into law, the bills will mark a paradigm
shift in tax administration in Nigeria, to the advantage of Nigerians.

 

Reacting to the passage of the bills in a statement on
Friday, the AGN said the development demonstrates the Senate’s commitment to
promoting economic growth, fairness and transparency in Nigeria’s tax system.

 

In a statement signed by its President, Danladi Usman, the
Arewa association commended Tinubu for initiating the reforms in Nigeria’s tax
system, noting that it will positively impact the nation’s economy.

 

According to the AGN, the passage of the bills also
demonstrates the President’s dedication to creating a more equitable and
prosperous Nigeria for all citizens.

 

The Arewa Grassroots Network emphasized that the Tax Reform
Bills, when eventually signed into law, will enhance revenue generation and
promote transparency, accountability and fairness in the tax system.

 

The Arewa association expressed the belief that the reforms
initiated with the bills will particularly benefit poor northern states, who,
it said, have been historically disadvantaged in the country’s tax revenue
allocation.

 

The AGN added, “The new tax regime will ensure that our
states receive a fair share of the tax revenue, enabling them to fund critical
development projects and improve the lives of their citizens.

 

“For too long, the northern states have been marginalized in
the allocation of tax revenue, leading to a lack of investment in critical
infrastructure and social services.

 

“The passage of these bills marks a significant turning
point in the history of Nigeria, as it signals a commitment to addressing the
economic imbalances that have hindered the growth and development of the
northern region.

 

“We urge the Senate to expedite the passage of these bills
into law, ensuring that Nigeria’s tax system is modernized and aligned with international
best practices.

 

“We also call on the National Assembly to work closely with
stakeholders, including state governments, civil society organizations, and the
private sector, to ensure a smooth implementation of the tax reforms.

 

“Once again, we commend the Nigerian Senate for taking this
bold step towards reforming the country’s tax system. We look forward to the
successful passage of these bills into law and the positive impact they will
have on Nigeria’s economy and citizens.”

Source: Arewa youths back Senate on passage of Tinubu’s Tax Reforms Bills for second reading

 - NigerianEye

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