Senate President Godswill Akpabio has said that not more than 30 per cent of Nigerians pay tax to the coffers of the Federal Government, yet many Nigerians want the best to be provided by the government in the areas of infrastructure, education and security among others.
Speaking on Monday while declaring open the public hearing on tax reform bills forwarded to both chambers on October 3, 2024, by President Bola Tinubu, Akpabio said the reforms were necessary as the nation cannot continue to do the same thing repeatedly.
According to him, when the bills are passed, the National Assembly will improve its oversight of the government to ensure that the resources are spent judiciously.
According to him, the public hearing should be used to think of a better Nigeria, just as he assured that he would stay for two days and participate in the process as he was tired of social media, reiterating that most leaders in the country never saw the content of the bills before attacking the process.
Akpabio urged the participants and Nigerians to get copies of the bills and x-ray them properly instead of relying on social media.
Among the attendees were the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, Attorney-General of the Federation, Lateef Fagbemi (SAN), Chairman of Federal Inland Revenue Service, Zacch Adedeji, Comptroller-General of Nigeria Customs Service, NSC.
Earlier in his opening remarks, Chairman of Senate Committee on Finance, Senator Sani Musa (APC, Niger East) noted that the Joint Revenue Board Establishment Bill and Nigerian Revenue Services Bill will be discussed soon.
According to him, the committee has invited Nigerians totalling 71 different groups of stakeholders for the public hearing, adding, “Both the Senate and the House of Representatives have done the second reading on the reform bills and are ready for the public hearing.”
“The bills have been read by all members of the committee with better understanding of what they are aimed at, like in the areas of tax administration, collection and operations in Nigeria.
“The main purpose of the reform bills is to see how the government will generate more revenue so that we’ll be able to put our country on the pedestal of advanced economies where infrastructure, education, agricultural sector and virtually every sector that revolves around the ecosystem of the economy will be adequately taken care of,” Musa said.
The tax reform bills are (i) The Nigeria Tax Bill (NTB) 2024, (ii)The Nigeria Tax Administration Bill (NTAB) 2024, ( iii)The Nigeria Revenue Service (Establishment) Bill (NRSEB) 2024 and (iv) The Joint Revenue Board (Establishment) Bill (JRBEB) 2024. They were passed for a second reading in the Senate on November 28, 2024, and forwarded to the Committee on Finance for more legislative inputs through Monday’s public hearing.
