- Godswill Akpabio, the Senate President, said only 30 per cent of Nigerians pay tax
- He urged citizens to engage with legislative processes while declaring the public hearing on tax reform bills open
- The Senate Committee on Finance said 71 stakeholder groups were invited to the public hearing
Senate President, Godswill Akpabio, has said about 30 per cent of Nigerians pay taxes to the Federal Government but expect the government to deliver essential services such as infrastructure, education, and security.
Akpabio stated this on Monday, February 24, while declaring open a public hearing on the tax reform bills sent to the National Assembly on October 3, 2024, by President Bola Tinubu.
The Senate President stressed that reforming Nigeria’s tax system has become necessary as the country cannot continue to repeat past practices without meaningful change.
He stated that once the bills are passed, the National Assembly will strengthen its oversight to ensure judicious use of resources, and urged Nigerians to engage with the legislative process instead of relying on social media narratives.
“The public hearing should be used to think of a better Nigeria.
“I will stay for two days and participate in the process because I am tired of social media. Most leaders in this country never saw the content of the bills before attacking the process,” Akpabio said.
71 stakeholder groups invited to public hearing
In his speech, the Chairman of the Senate Committee on Finance, Senator Sani Musa, stressed the significance of the tax reform bills, especially in enhancing tax administration, collection, and operation.
Senator Musa said the committee had invited 71 stakeholder groups to contribute to the discussions at the public hearing of the bills.
The Senate Committee Chairman added that the bills aim to enhance government revenue and ensure economic sustainability.
He said, “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 a better understanding of what they are aimed at, particularly 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, agriculture, and other key sectors will be adequately taken care of.”
Among those present at the hearing were the Minister of Finance and Coordinating Minister of the Economy, Wale Edun; Attorney-General of the Federation, Lateef Fagbemi (SAN); Chairman of the Federal Inland Revenue Service, Zacch Adedeji; and the Comptroller-General of the Nigeria Customs Service.
The tax reform bills being heard include the Nigeria Tax Bill (NTB) 2024, the Nigeria Tax Administration Bill (NTAB) 2024, the Nigeria Revenue Service (Establishment) Bill (NRSEB) 2024, and the Joint Revenue Board (Establishment) Bill (JRBEB) 2024.
The bills have passed a second reading in the House of Representatives and the Senate and were forwarded to the Committee on Finance for further legislative scrutiny.
Senate to begin public hearing on tax reform bills Monday
Meanwhile, TheRadar earlier reported that the Senate Committee on Finance said it will commence a two-day public hearing on the tax reform bills on Monday, February 24.
The Chairman of the Senate Committee on Finance, Senator Sani Musa, disclosed this after a closed-door session with his panel members on the matter on Wednesday, February 19.
