Critics of Tinubu’s tax reforms lack understanding — Akpabio

Godswill Akpabio, president of the Senate, has described critics of the four tax bills submitted to the National Assembly by President Bola Tinubu as individuals who lack understanding of the proposed reforms.

Akpabio made the remarks at the presentation of the 2025 budget estimates by President Tinubu to a joint session of the National Assembly on Wednesday.

He said the four tax reform bills, including the Joint Revenue Board of Nigeria (Establishment) Bill, 2024; Nigeria Revenue Service (Establishment) Bill, 2024; Nigeria Tax Administration Bill, 2024; and Nigeria Tax Bill, 2024— represented a monumental shift in Nigeria’s fiscal landscape.

“It is disheartening that those who have not taken the time to understand these bills are the loudest critics. I urge all Nigerians, especially those in public office, to engage with these vital reforms thoughtfully. This initiative marks the first comprehensive tax reform since Nigeria’s independence, presenting a transformative opportunity to enhance the livelihoods of ordinary Nigerians”, he said.

Read also: Tax reforms key to wealth creation — Tinubu

The Senate president further emphasised that these reforms would not only boost Nigeria’s revenue profile but also foster a more conducive and internationally competitive business environment.

He asserted that the new tax framework would position the country for sustainable development by modernising the tax system to better support the economy.

According to Akpabio, the proposed legislation is a crucial step towards addressing long-standing challenges in Nigeria’s fiscal policies and offers an unprecedented opportunity for growth.