Tinubu’s Govt Makes Touching PROMISE To NORTHERNERS Amid Frowns Over Tax Reform Bills, Pledges No Harm
In the face of growing concerns surrounding the proposed Tax Reform Bills, President Bola Tinubu’ s administration has assured Nigerians, particularly those in the northern region, that the reforms are designed to unify the country’ s tax system without jeopardizing regional economies or eliminating key developmental agencies like TETFUND, NASENI, and NITDA.
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The government clarified misconceptions about the reforms, emphasizing that these changes aim to streamline Nigeria’ s tax structure, reducing the financial burden on businesses while fostering national economic growth. Speaking on December 2, 2024, Bayo Onanuga, Special Adviser to the President, stated that the reforms consolidate multiple taxes into a single levy, ensuring the sustainability of critical agencies through budgetary allocations rather than multiple special taxes.
The reforms come amid worries that northern states could suffer economically due to perceived biases in the allocation of resources under the new tax framework. Critics suggested that the reforms might disproportionately favor wealthier states like Lagos and Rivers. However, the Presidency countered these claims, asserting that the reforms are equitable and intended to uplift all Nigerians, particularly marginalized groups striving to make a living.
🔥Tinubu’s Govt Makes Touching PROMISE To NORTHERNERS Amid Frowns Over Tax Reform Bills, Pledges No Harm| image 8
🔥Tinubu’s Govt Makes Touching PROMISE To NORTHERNERS Amid Frowns Over Tax Reform Bills, Pledges No Harm| image 11
Onanuga assured that the consolidation of taxes will not impoverish any region. Instead, it is set to modernize outdated tax laws, enabling broader economic participation and creating a level playing field for businesses nationwide, including in the North. By addressing over- taxation, the reforms aim to prevent the migration of businesses to more economically favorable countries and promote sustainable development across all regions.
The statement further debunked rumors that prominent agencies like TETFUND, NASENI, and NITDA will be scrapped. Rather than dissolving these institutions, the government intends to shift their funding to more sustainable budgetary provisions and other sources, aligning with international best practices. These agencies will continue to play pivotal roles in advancing education, innovation, and development across Nigeria, including in northern states.
The government’ s promise to northern Nigerians underscores its commitment to equitable development and prosperity. By harmonizing tax systems, reducing business burdens, and safeguarding critical agencies, Tinubu’ s administration is charting a path toward a balanced and inclusive economic future. This reform is a clarion call to unite all regions under a common goal of national growth and equity.
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