"Your Timing is Wrong": Tinubu Told to Quash Tax Reforms Move As Nigerians Decry Hunger, Inflation
- President Tinubu's tax reform bills face backlash as citizens struggle with inflation and economic woes
- Stakeholders recommend withdrawing the bills for fairer consultation, warning of potential harm to northern states
- David Itopa warns tax reforms during hyperinflation could worsen Nigeria's economic challenges
President Bola Ahmed Tinubu’s tax reform bills have come under fire as citizens grapple with soaring inflation and widespread economic hardship.
The bills, including the Nigeria Revenue Service (Establishment) Bill and the Nigeria Tax Administration Bill, are currently under parliamentary review but have faced opposition from key stakeholders.
Source: Twitter
Opposition from northern governors
The Northern Governors Forum has raised concerns about provisions like Value Added Tax (VAT), warning they could disproportionately harm northern states.
Similarly, the National Economic Council (NEC) has recommended withdrawing the bills for further consultation, citing the need for a more inclusive approach.
Presidency speaks on Tinubu's tax reform bills
Legit.ng reported that on Thursday, November 28, presidential aide Dare clarified Tinubu’s objectives with the tax reform bills, saying:
“The freedom to generate revenue as a country is within the tax system. The president’s goal is to refine the tax structure and shift from voluntary to corporate taxation while blocking revenue loopholes."
He likened Tinubu’s tax reform plans to the model he implemented as Lagos State governor, which raised the state’s internally generated revenue from N600 million to a benchmark-setting system.
“To match Lagos State’s tax revenue, you would need to combine at least 15 states,” Dare added.
David Itopa rubbished Tinubu's tax reform bills
Political analyst David Itopa, speaking exclusively to Legit.ng, argued that pushing tax reforms during an inflationary period could worsen Nigeria’s economic woes.
“When there is inflation like we have in Nigeria, the economically wise thing to do is to cut tax. If you increase tax, the inflation will continue to go hyper,” he said.
He urged the federal government to prioritize alleviating citizens’ financial burdens.
“With the rising cost of living and hyperinflation, the timing for tax reform is wrong,” Itopa warned.
36 state governors reject Tinubu's tax reforms
Meanwhile, Legit.ng reported that a decisive move, the 36 state governors of Nigeria under the aegis of the Nigeria Governors’ Forum (NGF), have called for the immediate withdrawal of the National Tax Reforms Bill.
The governors, speaking during Thursday's National Economic Council (NEC) meeting, asked President Bola Ahmed Tinubu to withdraw the Reforms Bill from the National Assembly for more comprehensive consultations.
Source: Legit.ng
