The South East Governors Forum Secretariat (SEGOFS) has taken a major step toward fostering economic progress in the Southeast region of Nigeria with the launch of its inaugural dialogue series, “Common Ground with SEGOFS.”
Held on Thursday at the SEGOFS Secretariat, the event focused on the contentious Tax Reform Bills and their potential impact on the Southeast economy.
This dialogue, hosted by Senator Uche Ekwunife, Director General of SEGOFS, brought together key stakeholders from various sectors to deliberate on the proposed reforms. The session also featured Chief Okwudili Ijezie, a seasoned chartered accountant, as the lead presenter, and Chief Joe Ikunna, who moderated the discussion.
Bringing Together Experts for Regional Growth
The dialogue marked a significant step in ensuring that regional concerns are addressed in national policy debates. Aimed at providing a platform for inclusive discussions, the session attracted participants from diverse professional backgrounds across the Southeast.
Senator Ekwunife, in her opening remarks, emphasized the importance of “Common Ground with SEGOFS” as a platform for tackling critical issues affecting the region.
“This initiative aims to unite experts from various fields to deliberate on common challenges and propose solutions that serve the best interests of the Southeast,” she said.
Ekwunife also reassured the attendees that the recommendations from the dialogue would be forwarded to the Southeast Governors’ Forum and other relevant authorities for further consideration.
The Tax Reform Bills: A Controversial but Promising Change
The focal point of the meeting was the introduction of the four key Tax Reform Bills by President Bola Tinubu’s administration. These bills include the Nigeria Revenue Service Bill, the Nigeria Tax Bill, the Nigeria Tax Administration Bill, and the Joint Revenue Board Bill.
Chief Okwudili Ijezie, in his keynote address, delved deep into the intricacies of these bills and their potential implications for the Southeast region. Ijezie explained that while the bills, particularly the proposed increase in the allocation of Value-Added Tax (VAT) to states based on consumption, had sparked controversy—especially with opposition from Northern governors—there were also potential benefits for the Southeast.
He pointed out that these reforms could lead to better revenue allocation, improved tax compliance, and long-term economic growth for the region. However, Ijezie also warned that multiple layers of taxation and unclear legislative frameworks could hinder these benefits.
“We must engage constructively with federal stakeholders to ensure that the Southeast is not unfairly impacted,” Ijezie said. “Our region must work to ensure that these reforms are equitable and do not place an unnecessary burden on our businesses and people.”
Seeking Regional Unity and Advocacy
The panel discussion, which included experts like Dr. Uramma, Prince Nwakeze, Dr. Kachi Nwoga, Ambassador Clem Aguiyi, and CDon Adinuba, echoed the need for a deeper understanding of the tax reforms. All panelists agreed that the Southeast must adopt a unified position in advocating for its interests in national policy discussions.
A resolution was passed to establish a study group to analyze the proposed laws and prepare comprehensive recommendations. These recommendations will be presented at future dialogue sessions to ensure a structured and informed response to the reforms.
Chief Joe Ikunna, the moderator, commended the initiative, stating, “We need our best minds to advocate for the Southeast with confidence and clarity when discussing national issues.”
The importance of proactive engagement was emphasized, as the bills could shape the region’s economic landscape for years to come.
A Unified Approach for a Better Future
The dialogue session also served as a reminder that the Southeast must strengthen its position in national policy discussions. As Nigeria faces critical decisions on its economic future, ensuring the Southeast’s concerns are heard and addressed is vital for regional growth and development.
The outcome of this maiden session signals a promising start toward a unified regional approach to governance. SEGOFS is positioning the Southeast as an active participant in the evolving national policy discussions, striving for solutions that will lead to sustainable economic growth.
“The Southeast must work together as a region, leveraging our collective expertise and resources to ensure our voices are heard in national matters,” Senator Ekwunife concluded.
