President Bola Tinubu has directed the Attorney-General of the Federation, Lateef Fagbemi SAN, to work with the National Assembly in addressing “genuine concerns” associated with the Tax Reform Bills before their passage by the lawmakers.
This was disclosed in a statement by Mohammed Idris, Minister of Information and National Orientation, on Tuesday, December 3, 2024.
The ministry stated that the president welcomes and commends the robust nationwide debate on the new tax reform bills currently before the National Assembly.
“In line with the established legislative procedure, the Federal Government welcomes meaningful inputs that can address any grey areas in the bill. In this vein, President Tinubu has already directed the Federal Ministry of Justice and relevant officials who worked on the drafts to work closely with the National Assembly to ensure that all genuine concerns have been addressed before the bills are passed,” the statement added.
“In all, these reforms will not only facilitate increased revenues (without imposing additional tax burdens on the people), but they will also make it possible for citizens to demand and enjoy greater accountability in the management of public resources at all levels of government.
“President Tinubu and the administration will continue to champion policies that close the loopholes and gaps through which Nigeria’s valuable public resources have been frittered away for decades,” he added,
Highlighting that commentators should strive to be respectful and understanding at all times, despite the diversity of opinions associated with the bills.
He assured that the resources being conserved and realized from these reforms will be invested in critical infrastructure (healthcare, education, transportation, digital technology, etc.) and in social investments that will benefit all Nigerians.
Naijaonpoint previously reported that President Bola Tinubu had rejected the National Economic Council’s (NEC) proposal to withdraw the tax reform bill, insisting that the council follow the “legislative process.”
The new tax bills under consideration in the National Assembly propose adopting a derivation principle in the allocation of VAT revenues between the federal government and sub-national entities.