The Senate President, Senator Godswill Akpabio, has taken aim at critics of the newly proposed tax reform bills, describing them as individuals who lack proper understanding of the initiative.
Akpabio made this declaration on Wednesday during the presentation of the 2025 Appropriation Bill by President Bola Tinubu to the joint sitting of the National Assembly.
The event, held in Abuja, served as a platform for the Senate President to address growing public discontent surrounding the four controversial tax reform bills introduced by the federal government.
“It is disheartening that those who have not taken the time to understand these bills are the loudest critics,” Akpabio stated, in what seemed like a direct response to the mounting backlash.
The bills in question include the Joint Revenue Board of Nigeria Establishment Bill, 2024; Nigeria Revenue Service Establishment Bill, 2024; Nigeria Tax Administration Bill, 2024; and the Nigeria Tax Bill, 2024.
These proposals have been described by Akpabio as a “monumental shift” in the country’s fiscal policy framework.
He highlighted that these reforms are poised to transform Nigeria’s tax system for the better.
“This initiative marks the first comprehensive tax reform since Nigeria’s independence,” Akpabio said, emphasizing the historic nature of the bills.
However, public reactions have been less than enthusiastic.
Critics have accused the federal government of introducing policies that could potentially burden small businesses and low-income earners.
Many have questioned the timing of the reforms, especially as Nigeria continues to grapple with economic challenges such as inflation, unemployment, and a weakened naira.
Civil society groups have also raised concerns about a lack of adequate consultation before drafting the bills.
But Akpabio insisted that the reforms are in Nigeria’s best interest.
“These reforms will not only improve Nigeria’s revenue profile but also create a more conducive and internationally competitive business environment,” he asserted.
Tax reform has been a lingering issue in Nigeria for decades.
The country’s reliance on oil revenue has often left its fiscal policies vulnerable to global price fluctuations.
Non-oil revenue, particularly from taxation, has remained critically low, contributing less than 6% to the country’s Gross Domestic Product (GDP).
Experts have long called for a revamp of the tax system to ensure sustainable development and reduce dependency on external borrowing.
Akpabio believes the proposed bills represent a bold step toward achieving these goals.
“The reforms will rejuvenate small and medium enterprises and enhance the livelihoods of ordinary Nigerians,” he said.
President Tinubu, in his presentation of the 2025 budget, expressed full support for the tax reform bills.
He noted that the measures are designed to create a more equitable and efficient revenue generation system.
Tinubu also urged lawmakers to pass the bills swiftly to enable their implementation in the coming fiscal year.
The president’s stance has drawn praise from pro-government analysts who argue that Nigeria’s current tax laws are outdated and ineffective.
Akpabio called on Nigerians, particularly those in public office, to approach the reforms with an open mind.
“It is essential for all stakeholders to engage thoughtfully with these vital reforms,” he said.
The Senate President further assured the public that the National Assembly would prioritize transparency and accountability during the legislative process.
“We owe it to Nigerians to ensure that these reforms are not only understood but are also implemented in a way that benefits everyone,” Akpabio added.
The road to implementing the tax reforms is likely to be fraught with challenges.
From public resistance to potential legal battles, the federal government must navigate a delicate balancing act to win over skeptics.
Despite these hurdles, Akpabio remains optimistic.
“These reforms will transform our tax system to support sustainable development,” he concluded, urging Nigerians to see the bigger picture.
