Tax Reform Bills will serve interest of all – Senate

By Haruna Salami

The President of the Senate Godswill Akpabio has called on stakeholders in the public and private sectors of the Nigerian economy to unite in overhauling  outdated tax laws which are in urgent need of reform.

 Akpabio gave the charge at the opening ceremony of a two day public hearing on the Tax Reform Bills, emphasizing that taxation should not be a tool of oppression but a mechanism for national development.

 According to him, the current fragmented tax framework, which imposes unnecessary burdens on businesses and individuals, discouraging investment and economic growth.

He highlighted the injustice of tax revenue distribution and questioned why states hosting factories receive little benefit while corporate headquarters in other regions collect the bulk of taxes.

In his words Akpabio said “taxation should be fair, transparent, and efficient” adding “very Nigerian deserves a system that works for them, not against them”.

He urged Nigerians to move beyond social media debates and engage with the actual bills, emphasizing that the Senate’s focus is on building a legacy of good governance, not passing laws arbitrarily.

With digital innovation and streamlined administration at the heart of the proposed reforms, Akpabio assured that these changes would harmonize tax collection, reduce compliance costs, and boost economic stability.

“This is more than legislation, it is about the future of our economy. Five years from now, we will look back and say, ‘yes, thanks to these reforms, we built a stronger Nigeria.

“This gathering is significant because the individuals in this hall understand the legislative process. This is the place where we discuss, analyze, and refine policies for the benefit of our nation. We are here not just to debate but to make informed decisions that will shape Nigeria’s economy.

“At the House of Representatives, we have been actively engaging various stakeholders, including young minds, to ensure inclusivity in governance.

“I hope these engagements continue until we have fully addressed all concerns, ensuring that our tax laws serve the best interests of the Nigerian people.

“Enhancing revenue for national development is a responsibility that concerns every Nigerian—men, women, and children alike. Effective taxation is not just about governance; it is about ensuring that our resources are managed efficiently to build a prosperous future.

“As members of the National Assembly, particularly the Senate, we are not here to make laws for the sake of making them. We aim to leave behind enduring legacies. Laws should serve the purpose of good governance and economic progress.

“In crafting these reforms, we are considering past challenges, current realities, and future possibilities to create a fair, efficient, and modern tax system.

The tax reform bills we are discussing today are not just about revenue collection—they are about fostering economic growth and ensuring social equity.

“We recognize the misconceptions and concerns surrounding taxation, and we are determined to pass laws that truly benefit the majority of Nigerians.

“Oversight is a key function of government, and we are committed to ensuring that all revenue collected is transparently and effectively utilized for national development. Some of our existing tax laws date back to colonial times and require urgent modernization to reflect contemporary economic realities.

“Tax compliance should not be a burden on citizens. We need a system that is fair, transparent, and efficient. There is no reason for unnecessary complexities that only serve to discourage compliance.

 “The goal of these reforms is to harmonize tax administration, reduce collection costs, and improve overall efficiency through digital innovation.

“This public hearing provides a platform for constructive dialogue among lawmakers, government officials, and business leaders. Your input is invaluable in shaping policies that will foster economic growth and encourage investment.”