APC diaspora chieftain lauds Senate for passing tax reform bills

By Raji Rasak

Chief Ayoola Lawal, a former Secretary, Committee of APC Diaspora Chairmen,  on Friday applauded Senate’s passage of two key tax reform bills.

This is contained in a statement signed by Lawal and made available to newsmen in Lagos on Friday.

According to him, the passage of the bills  is a bold and necessary move that demonstrates renewed political will to restructure the nation’s fiscal architecture and boost non-oil revenue generation.

He said the development was a strong indicator of the Chief Bola Tinubu administration’s commitment to modernising Nigeria’s economic framework and rebuilding public trust in tax administration.

“This is more than legislative progress.

“It is a bold declaration that Nigeria is ready to reset its tax system in a way that enhances transparency, encourages investment and supports inclusive growth,” he said.

Lawal, who has spent over a decade championing diaspora-led development and policy accountability, said that repealing the  Federal Inland Revenue Service (FIRS) Act and establishing a more dynamic, technology-driven Nigeria Revenue Service (NRS) was  long-overdue.

“For too long, Nigeria’s tax structure has been fragmented and burdensome for both individuals and businesses.

“The harmonisation of federal and state tax processes, as outlined in the Tax Administration Bill, is a crucial step toward eliminating inefficiencies and simplifying compliance,” he said.

Lawal also commended the Senate for rejecting the proposed Value Added Tax (VAT) increase from 7.5 per cent to 10 per cent, describing  the decision as ‘wise and compassionate’ in light of the economic challenges.

“Tax reform must be intelligent and people-focused.

“Raising VAT at this time would have worsened the cost-of-living crisis for millions,” he said.

On the upcoming debate on the remaining two bills – the Joint Revenue Board Establishment Bill and the Nigeria Tax Bill, Lawal urged the lawmakers to maintain the reform momentum and broaden stakeholder consultation.

“This tax reform agenda must go beyond government policy.

“It should reflect the voices and interests of all Nigerians, especially entrepreneurs, workers and Nigerians in the diaspora, whose contributions are vital to national development.”

He  urged robust implementation strategies and legislative oversight to ensure that the reforms would deliver tangible economic benefits and drive improved service delivery across all levels of government. (NAN)(www.nanews.ng)