The Speaker of the House of Representatives, Hon. Tajudeen Abbas, has indicated that the Green Chamber has not yet taken a definitive stance on the tax reform bills submitted to the National Assembly by President Bola Tinubu.
Abbas shared this information during a Monday session in Abuja, which was inaugurated to discuss the proposed bills.
The bills in question include the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service Establishment Bill, and the Joint Revenue Board Establishment Bill.
The Speaker highlighted that these four bills represent significant proposals from the executive aimed at expanding Nigeria’s tax base, enhancing compliance, and establishing sustainable revenue streams for the country’s development.
He explained that the purpose of this session is to provide lawmakers with a comprehensive understanding of the proposed bills. The session is designed to deepen their appreciation of the provisions, initiate constructive dialogue on contentious issues, and build the consensus necessary to craft versions of the bills that reflect the interests of the executive, the legislature, sub-national governments, and the Nigerian populace. Importantly, the session will identify areas requiring amendment, clarification, or improvement and assess the compatibility of these bills with the 1999 Constitution (as amended) and other existing laws.
Abbas underscored that tax reforms are a fundamental part of the House Legislative Agenda, given their pivotal role in achieving sustainable economic growth and development.
He emphasized that in every modern state, taxes are the cornerstone of public revenue, providing the necessary resources to deliver education, healthcare, infrastructure, and security.
Abbas noted, “Yet, Nigeria, despite being Africa’s largest economy, struggles with a tax-to-GDP ratio of just 6 percent—far below the global average and the World Bank’s minimum benchmark of 15 percent for sustainable development.”
“This is a challenge we must address if we are to reduce our reliance on debt financing, ensure fiscal stability, and secure our future as a nation.”
The Speaker stated that the proposed tax reform bills are intended to diversify the country’s revenue base, promote equity, and create an enabling environment for investment and innovation.
He added, “However, as representatives of the people, we must approach these reforms thoughtfully, understanding their potential implications for every segment of society.”
“Taxes should be fair, transparent, and justifiable, balancing the need for public revenue with the burdens they impose on individuals and businesses.”
“Let me be clear: the House has not yet taken a definitive position on these bills. Our role is to scrutinize them thoroughly, ensuring they align with the best interests of our constituents and the nation at large. We owe this duty to Nigerians.”
Abbas concluded by stating that the controversies surrounding these bills—whether in the media, civil society, or among governance stakeholders—reflect their significance.
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