The Northern Economic Development Forum has addressed concerns raised by Northern governors regarding President Bola Tinubu’s new tax reform policies, expressing confidence that the North will benefit from the proposed changes. Despite opposition from the Northern governors, who urged the National Assembly to reject the Tax Reform Bills because they would negatively impact the region, the forum voiced strong support for the reforms.
The forum emphasized that there is no cause for alarm, as the tax reforms aim to enhance and modernize Nigeria’s tax system. The reforms, which include the restructuring and streamlining of tax processes, the establishment of a unified revenue service, and the simplification of financial obligations for businesses and citizens, are seen as crucial for improving the country’s tax landscape.
In a statement, the Northern Economic Development Forum urged that the proposed bills be studied carefully before concluding. The forum announced plans to launch a widespread awareness campaign across the 19 Northern states to gather support for the tax reforms.
The statement, signed by Dr. Mustapha Ibrahim Gusau, clarified key aspects of the four bills: the Nigeria Tax Act, the Nigeria Tax Administration Act, the Nigeria Revenue Service (Establishment) Act, and the Joint Revenue Board (Establishment) Act. It noted that the new laws are intended to optimize the existing tax frameworks, not to introduce additional complexity or new taxes. The forum stressed that the reforms will contribute to the development of the North and Nigeria as a whole.
It stated further, “The laws will not increase the rate or percentage of any existing taxes. The intent is to ensure a more equitable distribution of tax obligations without increasing the financial burden on Nigerians.
“The laws will not lead to job losses; instead, they are structured to stimulate new avenues for job creation, supporting a dynamic, growth-oriented economy.
“These laws will not eliminate or absorb the duties of any existing department, agency, or ministry. Rather, they aim to harmonize revenue collection and administration across the federation to drive cohesive and unified financial management.
“The bills will not create additional compliance requirements for small businesses or individual taxpayers. They are aimed at simplifying compliance, particularly for SMEs, and fostering a more inclusive tax environment.
Speaking on its findings, the Forum revealed it will lead to the Harmonisation of Tax Laws; drive efficiency and Modernisation, Simplifies Laws and ensure synergy Across Revenue Collection Agencies, and ensure efficiency in Government Spending and Savings.
“It will also Promote Transparency and Integrity in Revenue Collected, update tax Laws to Reflect Present Realities, align with International Standards, and broaden the Tax Base.”
The forum, therefore, urged all Nigerians, especially northerners, to embrace the reforms without stirring up unnecessary tension.
