90% of Nigerians Support Tax Reform Bills — PCFPTR Chairman Taiwo Oyedele Reveals

Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms (PCFPTR), has stated that 90% of Nigerians support the tax reform bills currently under consideration by the National Assembly.

Speaking during a special town hall on the bills broadcast on Channels TV on Monday, Oyedele shared insights from a survey conducted by his team involving over 3,000 participants, both online and offline.

“Among those who attended in person, the approval rate was 100%. For those who engaged online or watched recorded sessions, approval was at 92%. Even among those who only followed updates without participating directly, approval reached 76%. Overall, support for the reforms exceeds 90%,” Oyedele explained.

He emphasized that the reform bills contain over 200 transformative provisions aimed at unlocking Nigeria’s economic potential and charting a path to prosperity.

“We should not let one or two controversial provisions that can be discussed and resolved derail this process,” he added.

In September, President Bola Tinubu submitted four tax reform bills to the National Assembly based on recommendations from the PCFPTR.

These include: The Nigeria Tax Bill 2024; Establishing a fiscal framework for taxation in the country and the Tax Administration Bill which will provide a streamlined legal framework for tax administration and reducing disputes.

Others are the Nigeria Revenue Service Establishment Bill, to replace the Federal Inland Revenue Service Act to create the Nigeria Revenue Service and the Joint Revenue Board Establishment Bill, to create a tax tribunal and a tax ombudsman.

However, state governors have opposed the bills, calling for their withdrawal to allow for broader consultations. President Tinubu has rejected this proposal, signalling his commitment to pushing the reforms forward. [CONTINUE READING HERE]>>>>