President Bola Tinubu has commended governors for okaying the Tax Reform Bills, describing the move as “bold”.
The Nigeria Governors’ Forum (NGF) on Thursday threw its weight behind the controversial bills in a move that came as good news to advocates of the proposal.
Less than a day after the development, presidential spokesman Bayo Onanuga conveyed his principal’s joy over the governors’ blessings of the tax reforms.
“President Bola Tinubu expresses his appreciation for the Nigeria Governors’ Forum following their unanimous endorsement of the four Tax Reform Bills currently under consideration by the National Assembly,” he said in a statement issued on Friday evening.
“President Tinubu lauds the governors for their bold leadership and commitment to fostering unity among leaders nationwide, transcending regional, ethnic, and political barriers to advance Nigeria’s development.”
The governors’ backing came after a meeting with the Presidential Committee on Tax and Fiscal Policy, an event the presidency said “is a commendable example of cooperation between the Federal and State governments”.
The presidency said the dialogue “highlights the power of constructive conversation in resolving differences.”
Tinubu thanked the Chairman of the Governors’ Forum and the Kwara State Governor Abdulrahman AbdulRazaq, “for successfully galvanising support among his peers for these transformative tax bills to rejuvenate the national economy and enhance Nigeria’s investment climate.
“He also commends the Progressive Governors Forum, the Northern Governors Forum, and all other groups that made the bipartisan resolution of the controversy stirred by the tax bills possible.”
Despite objections to the bills especially from the northern region, Tinubu said they are “pro-poor,” meant to “promote national interests, improve the competitiveness of Nigeria’s economy, and attract both local and foreign investments”.
“He said updating the country’s outdated tax laws is essential to this endeavour.
“President Tinubu regards the governors as vital contributors to nation-building and affirms his commitment to partnering with them to promote economic growth, national harmony, peace, and stability.”
The president called on other stakeholders with ideas and suggestions for refining the Tax Bills to engage with the ongoing legislative process at the National Assembly.
Onanuga quoted Tinubu as asking the “National Assembly to expedite the legislative process for these crucial bills so that the country can swiftly reap the benefits of the reforms”.
In October, Tinubu sent four tax reform bills to the National Assembly, asking them to consider and pass them.
They include the tax administration bill, Nigeria tax bill, and joint revenue board establishment bill.
He also wants to repeal the law establishing the Federal Inland Revenue Service (FIRS) to replace it with the Nigeria Revenue Service.
But the move got pushback from some sections of the country, prompting the National Assembly to pause for more consultation.