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Home BREAKING NEWS BREAKING: South-South senators back Tinubu’s Tax Reform Bills

BREAKING: South-South senators back Tinubu’s Tax Reform Bills

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Senators from the South-South geopolitical zone of the country have expressed support for the Tax Reform Bills presented to the National Assembly by President Bola Tinubu.

By Emma Ogbuehi

Senators from the South-South geopolitical zone of the country, have expressed support for the Tax Reform Bills presented to the National Assembly by President Bola Tinubu.

The lawmakers, acting under the aegis of the South-South Senators’ Forum stressed the importance of tax reforms in boosting national revenue and fostering economic stability.

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In a communiqué released in Abuja, the senators also expressed unwavering confidence in Senate President Godswill Akpabio.

Their support for the Tax Bills came amid resistance from certain quarters calling for their withdrawal by the presidency.

The communiqué was signed by Senator Seriake Dickson (Chairman), Senator Jarigbe Agom Jarigbe (Secretary), Senator Barinada Mpigi, Senator Adams Oshiomhole, Senator Neda Imasuen, Senator Munir Ned Nwoko, Senator Thomas Joel-Onowakpo, Senator Aniekan Bassey, Senator Asuquo Ekpenyong, and Senator Allwell Onyeso.

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Other signatories include Senator Ipalibo Banigo, Senator Benson Agadaga, Senator Konbowei Benson, Senator Eteng Jonah Williams, Senator Ekong Sampson, and Senator Ede Dafinone.

The communique reads in part: “After a meeting held on the 4th of December, 2024, we, the Senators of the Federal Republic of Nigeria from the South-South Geopolitical Zone, met on Wednesday, December 4, 2024, to deliberate on key National issues and the role of the Senate in advancing the collective interest of the Country. After extensive discussions, the following resolutions were made:

“The South-South Senators unanimously agreed and passed a vote of confidence in the Senate President of the Federal Republic of Nigeria.

“We reaffirm our unwavering commitment to standing by him and supporting his leadership in steering the Senate toward its constitutional mandate of making laws that serve the best interests of the nation and its citizens.

“We pledge our full support to the Senate President and the leadership of the National Assembly in their efforts to ensuring the effective and timely passage of legislation aimed at promoting good governance, national unity, and economic development.

“Recognizing the importance of tax reforms in enhancing national revenue and fostering economic stability, we resolved to support the Tax Reforms Bills.

“This support will be anchored on a comprehensive study and thorough evaluation of the content of the Bills to ensure they align with the overall interest of Nigerians, particularly the well-being of the South-South region.

“The Caucus calls for restraint on the part of those bent on introducing sentiments, whether regional, ethnic or tribal to a national dialogue and looks forward to robust interactions and consultations as already commenced by the Senate of the Federal Republic of Nigeria.

“We remain committed to working collaboratively with our colleagues across the Senate and all stakeholders in fostering a legislative agenda that guarantees the peace, prosperity, and progress of our beloved nation.”

President Bola Tinubu, had on September 3, 2024, transmitted four tax reforms bills to the National Assembly for consideration following the recommendations of the Taiwo Oyedele-led Presidential Committee on Fiscal and Tax Reforms.

The bills include the Nigeria Tax Bill 2024, which aims to provide the fiscal framework for taxation in the country, and the Tax Administration Bill, which will provide a clear and concise legal framework for all taxes in the country and reduce disputes.

Others are the Nigeria Revenue Service Establishment Bill, expected to repeal the Federal Inland Revenue Service Act and establish the Nigeria Revenue Service as well as the Joint Revenue Board Establishment Bill, which will create a tax tribunal and a tax ombudsman.

However, on October 29, 2024, the Northern Governors Forum, the umbrella body comprising the 19 governors of the region, kicked against the bill, particularly the Value Added Tax-sharing template.

Also, at a gathering in Kaduna, the governors directed federal lawmakers from their respective states to vote against the bills when they came up for debate in both chambers of the National Assembly.

The four tax reform bills passed second reading at the Senate on Thursday and were referred to the Senate Committee on Finance, chaired by Niger East senator Sani Musa, for further legislative action, including holding a public hearing.

However, faced with stiff opposition from lawmakers and 19 northern state governors, the House of Representatives suspended indefinitely the debate on the Bills earlier fixed for Tuesday, December 3. The Senate has also halted actions on the proposals.

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