The apex Yoruba socio-political organization, Afenifere has shown it support for President Bola Tinubu’s tax reform bills.
Afenifere’s Organizing Secretary, Abagun Omololu while speaking with journalists on Sunday, highlighted that the proposed bills could offer significant economic advantages for every region, including the northern area.
“Afenifere is in support of the tax reform for its promise of economic revival. We have noted that the bills are a crucial step towards stimulating the Nigerian economy; hence, with the tax system reform, we hope for improvement in revenue generation at both federal and state levels.
“This is essential for funding critical infrastructure and social services that will benefit all Nigerians, including those in the North.
“After due scrutiny and consideration, we agree that the proposed changes to VAT administration are designed to align revenue sharing more closely with consumption patterns, affording states funding based on actual economic activity rather than historical allocations,” he said.
There is controversy surrounding the tax bills, amid strong resistance from governors and stakeholders in the northern part of the country.
President Tinubu inaugurated the Presidential Fiscal Policy and Tax Reform Committee (PFPTRC), which subsequently informed Nigerians of the move to replace the National Tax Policy with a more comprehensive “National Fiscal Policy on Fair Taxation, Responsible Borrowing, and Sustainable Spending.”
This resulted in four bills—including the Nigeria Tax Bill 2024, the Tax Administration Bill, the Nigeria Revenue Service Establishment Bill, and the Joint Revenue Board Establishment Bill—currently before both chambers of the National Assembly for passage.
