Senate President Godswill Akpabio has revealed that less than 30 per cent of Nigerians are paying taxes to the Federal Government, despite widespread expectations for the government to provide essential services like infrastructure, security, and education.
Akpabio made this statement during the opening of a public hearing on tax reform bills that President Bola Tinubu sent to the National Assembly in October 2024.
Akpabio said the urgent need for tax reforms, noting that the country cannot continue with outdated practices.
He assured that once the tax reform bills are passed, the National Assembly would provide stronger oversight to ensure resources are used effectively.
He also encouraged Nigerians to participate in the legislative process, urging them to engage with the reforms directly rather than relying on social media narratives.
Akpabio expressed frustration with the public’s tendency to attack processes without understanding the content of the bills.
“The public hearing should be used to think of a better Nigeria.
“I will stay for two days and participate in the process because I am tired of social media. Most leaders in this country never saw the content of the bills before attacking the process,” Akpabio said.
“Both the Senate and the House of Representatives have done the second reading on the reform bills and are ready for the public hearing.
“The bills have been read by all members of the committee with a better understanding of what they are aimed at, particularly in the areas of tax administration, collection, and operations in Nigeria,” Musa said.
He further explained that the bills were designed to enhance government revenue and ensure economic sustainability.
“The main purpose of the reform bills is to see how the government will generate more revenue so that we’ll be able to put our country on the pedestal of advanced economies where infrastructure, education, agriculture, and other key sectors will be adequately taken care of,” he added.
The tax reform bills under consideration include the Nigeria Tax Bill (NTB) 2024, the Nigeria Tax Administration Bill (NTAB) 2024, the Nigeria Revenue Service (Establishment) Bill (NRSEB) 2024, and the Joint Revenue Board (Establishment) Bill (JRBEB) 2024.
These bills passed a second reading in the Senate on November 28, 2024, and were forwarded to the Committee on Finance for further legislative scrutiny.
