The Speaker of the House of Representatives Hon. Abbas Tajudeen, has stated that the House would consider the Tax Reform Bills presented to the National Assembly by the Executive arm of the Federal Government “thoughtfully” and in the best interest of Nigerians.
The Speaker made this known in Abuja on Monday at ‘The People’s House Interactive Session on Tax Reform Bills’ organised by the House, which had the relevant stakeholders from the public and private sectors in attendance.
Some stakeholders present were the Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr. Taiwo Oyedele; the Chairman of the Federal Inland Revenue Service (FIRS), Mr. Zach Adedeji; the Director General of the Budget Office, Mr. Tanimu Yakubu, and a host of others.
Speaker Abbas stated that the controversies surrounding the bills “are a reflection of their importance,” adding that such debates are “healthy and necessary in a democracy.”
He added that the session was to channel those discussions into productive outcomes, stressing that it is critical that the House listens to diverse perspectives, asks probing questions, and seeks clarity on any unclear provisions.
The Speaker said: “Let me be clear: the House has not yet taken a definitive position on these bills. Our role is to scrutinise them thoroughly, ensuring they align with the best interests of our constituents and the nation at large. We owe this duty to Nigerians.”
The Speaker explained that the bills represent critical proposals from the executive to expand Nigeria’s tax base, improve compliance, and establish sustainable revenue streams for the nation’s development.
He further explained that the Tax Reform Bills aim to diversify the country’s revenue base, promote equity, and foster an enabling environment for investment and innovation.
“However, as representatives of the people, 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,” the Speaker said.
Speaker Abbas noted that the purpose of the session was to provide members of the House with “a comprehensive understanding of the proposed bills.”
He added: “It is designed to deepen our appreciation of their provisions, commence constructive dialogue on contentious or controversial areas, and build the consensus necessary to produce versions of the bills that align with the interests of the executive, the legislature, sub-national governments, and the Nigerian people.
“Importantly, this session will help us identify areas needing amendment, clarification, or improvement and consider the compatibility of these bills with the 1999 Constitution (as amended) and other extant laws.”
Speaker Abbas noted that tax reforms are a cornerstone of the 10th House’s Legislative Agenda “because of their central role in achieving sustainable economic growth and development.”
The Speaker stated that in every modern state, taxes are the bedrock of public revenue, providing the resources required to deliver education, healthcare, infrastructure, and security.
“Yet, Nigeria, despite being Africa’s largest economy, struggles with a tax-to-GDP ratio of just 6 percent—far below the global average and the World Bank’s minimum benchmark of 15 per cent for sustainable development.
“This is a challenge we must address if we are to reduce our reliance on debt financing, ensure fiscal stability, and secure our future as a nation,” he said.
Giving an overview of the four tax reforms bills, the chairman of the presidential committee, Mr. Oyedele, said there was nothing to fear in the proposals as they are in the best interest of Nigeria, especially states and local governments.