Senate President Godswill Akpabio reveals that fewer than 30% of Nigerians pay taxes, stressing the need for urgent tax reform and citizen participation
Senate President Godswill Akpabio has revealed that fewer than 30% of Nigerians are paying taxes to the Federal Government, a situation he believes hinders the country’s ability to provide essential services such as infrastructure, education, and security.
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His remarks, made on Monday, came during the opening of a public hearing on the tax reform bills sent to the National Assembly by President Bola Tinubu on October 3, 2024.
Akpabio underscored the critical importance of tax reforms, pointing out that Nigeria cannot continue with the same practices that have failed to generate enough revenue for the government to meet its obligations.
He called for a shift in how the country approaches taxation, emphasising the need for citizens to contribute their fair share to national development.
“Once these bills are passed, we will ensure that there is stringent oversight to guarantee that resources are used judiciously,” Akpabio said, stressing the need for transparency and accountability in the management of public funds.
The Senate President also urged Nigerians to engage in the legislative process and avoid relying on social media narratives, which often cloud the true intent of government policies.
He added, “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’s comments highlight the urgent need for tax reform to boost the nation’s revenue and ensure sustainable economic growth.
He encouraged attendees to read the tax reform bills thoroughly, noting that informed participation would help combat misinformation.
The tax reform bills, which 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, aim to overhaul Nigeria’s tax administration system.
The bills have already passed the second reading in the Senate and were forwarded to the Committee on Finance for further scrutiny.
Senator Sani Musa (APC, Niger East), Chairman of the Senate Committee on Finance, highlighted the significance of the reform bills, stating that 71 stakeholder groups had been invited to contribute to the discussions.
He explained that the bills were designed to improve tax administration, enhance revenue collection, and ensure the sustainability of the nation’s economy.
“The main purpose of these reforms is to generate more revenue for the government so we can improve key sectors like infrastructure, education, agriculture, and health,” Musa said, emphasising that these reforms are essential for advancing Nigeria’s economy and improving the lives of its citizens.
Among the key figures present at the hearing were the Minister of Finance and Coordinating Minister of the Economy, Wale Edun; Attorney-General of the Federation, Lateef Fagbemi (SAN); Chairman of the Federal Inland Revenue Service, Zacch Adedeji; and the Comptroller-General of the Nigeria Customs Service.
