JUST IN: Ohanaeze Ndigbo declares support for Tinubu’s tax reforms bill

Ohanaeze Ndigbo, the apex socio-cultural organization representing the Igbo people, has expressed its unequivocal endorsement of President Bola Ahmed Tinubu’s proposed Tax reform bills.

The group lauded the reforms for their potential to revolutionize Nigeria’s economic framework, particularly benefiting Small and Medium Enterprises (SMEs) and workers, while addressing the long-standing issue of double taxation.

In a statement on Sunday, December 1, 2024, signed by its Secretary General, Mazi Okechukwu Isiguzoro, Ohanaeze described the reforms as a vital step toward equitable economic growth.

“These tax reforms represent a transformative opportunity for the rejuvenation of SMEs and the enhancement of Nigerian workers’ fortunes.

“By eliminating the scourge of double taxation imposed by unscrupulous state governors, these reforms will create an equitable business climate that significantly boosts both local and foreign investments,” the group stated.

The group stated that the Igbo community, known for its entrepreneurial spirit, stands to benefit immensely from the proposed measures, which are expected to bolster private sector growth and foster a fairer regulatory environment.

Ohanaeze urged Southern Federal lawmakers to put aside partisan differences and ensure the smooth passage of the reforms in the National Assembly.

“It is imperative that our Southern legislators close ranks, transcending partisan divides, to ensure that the Tax Reforms Bills navigate both chambers of the National Assembly successfully,” the statement emphasized.

The organization expressed disappointment at opposition to the reforms from some Northern governors and lawmakers, attributing it to an attempt to maintain the status quo in VAT derivation principles, which they argue favours select interests.

“If the Northern political elites succeed in thwarting President Tinubu’s initiatives, it could set a dangerous precedent, fostering resistance against meaningful reform,” Ohanaeze warned.

Ohanaeze reiterated its solidarity with the Tinubu administration, citing its previous decision to abstain from nationwide protests as a gesture of cooperation.

“The promise of a prosperous and just Nigeria is within our reach, but it demands our collective resolve to advocate for transparency, equity, and sustainable economic growth,” the group concluded.