By Jemimah Wellington, JKNewsMedia Reporter
NIGERIA’s PROPOSED tax reform bills have sparked heated public debates, with critics spreading misinformation about their implications.
Contrary to claims, the bills do not disadvantage any region, destroy agency funding, or suggest the cessation of government bodies like NASENI, TETFUND, and NITDA by 2029.
Instead, the reforms seek to streamline the country’s complex tax system and provide relief to overburdened businesses.
The bills aim to consolidate various taxes, replacing them with a unified levy distributed to affected agencies, such as NASENI, over a phased period until 2030.
This allows these agencies time to diversify their funding sources, including budgetary allocations.
According to Bayo Onanuga, Special Adviser to President Tinubu, the reforms align with international best practices.
For years, businesses have struggled with Nigeria’s dense tax environment, often relocating to more favourable countries.
By addressing these challenges, the tax bills aim to create a competitive, investment-friendly economy that benefits all Nigerians.
President Tinubu has urged stakeholders to engage in upcoming National Assembly hearings to ensure informed discussions and prevent unnecessary polarisation.
At JKNewsMedia, our dedication to delivering reliable news and insightful information to our cherished readers remains unwavering. Every day, we strive to provide you with top-notch content that informs and enlightens. By donating to JKNewsMedia, you directly contribute to our mission of delivering quality journalism that empowers and informs. Your support fuels our commitment to bringing you the latest updates and in-depth analysis. Let's continue to uphold the highest standards of journalism and serve our community with integrity and dedication. Thank you for being a part of the JKNewsMedia family and for your ongoing support.
