The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has denied reports suggesting it opposes the four tax reform bills currently before the National Assembly.
Speaking at a press conference in Abuja, the commission’s chairman, Mohammed Bello Shehu, clarified the agency’s stance, emphasising its alignment with President Bola Ahmed Tinubu’s fiscal agenda.
Shehu described recent media reports as misrepresentations of the commission’s position. He urged Nigerians to rely only on official statements to avoid confusion about the reforms.
“The bill, for some reasons, has sparked intense debates within the last few weeks, with the contentious issue of Value Added Tax (VAT) allocation and derivation taking centre stage,” Shehu said.
He explained that the RMAFC had submitted a detailed memorandum to the National Assembly, highlighting best practices and supporting the president’s vision of a fair fiscal framework.
The chairman stressed that the reforms aim to unlock untapped revenue sources, increase Nigeria’s revenue-to-GDP ratio, and elevate the nation’s fiscal standing globally.
“These proposed tax reform bills are a significant step towards integrating untapped revenue sources, enhancing Nigeria’s revenue-to-GDP ratio, and positioning the country favourably among nations with high fiscal performance,” Shehu added.
Shehu also criticised inaccurate reporting, warning that it could derail the efforts of Nigerians working to support the government’s economic goals.
He encouraged the public to disregard misleading narratives and instead focus on credible sources for updates on the tax reforms.
Meanwhile, Victor Muruako, Chairman of the FRC, also reiterated the commission’s position during an interaction with academics and journalists at the Capital Market Academics of Nigeria (CMAN) event in Abuja on December 9.
Muruako highlighted the transformative potential of the bills, developed by the Presidential Fiscal Policy and Tax Reforms Committee.
“These bills aim to improve fiscal governance, transform public revenue architecture, and boost economic growth,” he said.
He assured Nigerians that the reforms are fair and not designed to favour any particular region or group.
“Our critical analysis of the bills shows that they do not contain any issue or item that could be said to be skewed to favour any region or section of the country,” Muruako added.
The FRC chairman also emphasised that the reforms would benefit low-income earners and small businesses, ensuring a more equitable distribution of resources among Nigeria’s federating states.
“This is a win for all Nigerians, particularly for low-income earners and Micro Small and Medium Businesses (MSMBs),” he stated.
The proposed tax reforms have sparked significant discussion among stakeholders, particularly concerning the contentious Value Added Tax (VAT) allocation and derivation formula.
The reforms, championed by President Tinubu’s administration, seek to address Nigeria’s low revenue-to-GDP ratio while ensuring fiscal equity.
Analysts have hailed the reforms as a step in the right direction, though some critics worry about potential implementation challenges.
Amid this backdrop, the clarifications from both RMAFC and FRC underscore the government’s commitment to addressing public concerns and ensuring transparency.
As the debate continues, Nigerians await the outcome of the National Assembly’s deliberations on the reforms.
