House Of Reps To Seek Expert Insights On Tax Reform Bills – Deputy Spokesman

The House of Representatives has announced plans to consult tax experts on the potential impacts of the Tax Reform Bills currently under review by the National Assembly.

Deputy spokesman, Philip Agbese, shared this development in an interview with The PUNCH in Abuja on Wednesday.

Naija News reports that the recent tax reform bills, introduced by President Bola Tinubu and the Federal Executive Council, aim to streamline tax procedures, create a unified revenue service, and simplify financial obligations for both businesses and individuals.

These reforms stemmed from an extensive review of Nigeria’s tax laws conducted by a committee led by Taiwo Oyedele, which was established in August 2023.

The committee’s recommendations were then consolidated into four executive bills and sent to the National Assembly in September 2024.

Following this, the 36 state governors collectively called for more consultations, with 19 governors initially opposing the bills, arguing they could negatively impact northern regions and state governments.

Despite the governors’ reservations, the Presidency has urged Parliament to proceed with reviewing the bills, while leaving room for legislative adjustments.

Agbese emphasized the House’s intention to engage the public through town hall meetings to gather input from citizens.

He said, “Where necessary, we will bring in experts to dissect them line by line and understand what exactly Nigerians think about it. They (the executive bills) will be subjected to a Town Hall engagement with the citizens for their input.

“We are known for being the People’s House, and that mantra under the leadership of Speaker Tajudeen Abass will be sustained at all times.”

Additionally, House Minority Leader Kingsley Chinda noted that the minority caucus had already initiated a review of the bills prior to the governors’ meeting.

In a phone conversation with The PUNCH, Chinda explained that the caucus had formed a team, led by Deputy Chairman of the House Committee on Appropriation, Iduma Igariwey, to draft a position paper for caucus review before the bills’ second reading.

Chinda assured that the minority caucus would prioritize national interest, advocating for balanced taxation that supports economic growth without placing undue financial burdens on citizens.

“The assurance is that the caucus will take a position that is in the best interest of the country and Nigerians. While we do not stand against citizens paying taxes, we do not believe in excessive taxation, as that will impoverish the country rather than grow the economy.

“We will rather strongly call for a reduction in public sector overhead costs and greater welfare for the lower class to reduce the gap between the lower and higher classes. In Nigeria today, we have both extremes,” he said.