The Speaker of the House of Representatives, Tajudeen Abbas, has pledged readiness of the legislative body to consider proposals and recommendations from stakeholders in the final report on the four tax reform bills, ahead of their passage by parliament.
Abbas stated this in Abuja on Wednesday while delivering his opening remarks at the commencement of a public hearing on the tax reform bills, organised by the House Committee on Finance.
The Speaker, represented by the Majority Leader, Julius Ihonvbere, made this known at the House on Wednesday while declaring open a three-day public hearing on the tax reform bills presented to the National Assembly by President Bola Ahmed Tinubu, GCFR.
He said, “The House will, therefore, scrutinise these bills thoroughly, ensuring they align with the best interests of our constituents and the nation at large. We owe this duty to Nigerians, and as the People’s House, we must always be accountable to the people.”
“As you are all aware, the tax reform bills have generated widespread debate in the media, public domain, and even in private discussions, all reflecting their importance. It should be noted, however, that these debates are healthy and necessary for consolidating our democratic practice and culture.
The bills include the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service Establishment Bill, and the Joint Revenue Board Establishment Bill.
“Importantly, this public hearing will help us identify areas requiring amendment, clarification, or improvement while also considering the compatibility of these bills with the 1999 Constitution (as amended) and other extant laws.
“We have, therefore, set aside three days for the public hearing to enable as many stakeholders as possible to air their views and make their recommendations.”
Abbas noted that the bills seek to “diversify our revenue base, promote equity, and foster an enabling environment for investment and innovation.”
He added that the Tinubu administration is “deliberate in its tax reform programme, ostensibly to improve Nigeria’s tax-to-GDP ratio by streamlining and broadening the tax base.”
He stressed, “However, as representatives of the people, I have continued to hold the view that 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.”
