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Reps Pledges Thorough Scrutiny Of Tax Reform Bills To Protect Nigerians’ Interests

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Reps

Reps Pledges Thorough Scrutiny Of Tax Reform Bills To Protect Nigerians’ Interests

Reps pledges thorough scrutiny of tax reform bills to protect Nigerians’ interests. The Speaker of the House of Representatives, Abbas Tajudeen, has assured Nigerians that the proposed tax reform bills will be carefully examined to ensure they align with the best interests of citizens and the nation’s economy.

Speaking at a public hearing organized by the Special Committee on Tax Reform Bills in Abuja, Mr. Tajudeen acknowledged the concerns raised by Nigerians regarding the bills.

He emphasized that while the government seeks to enhance revenue through tax reforms, the House remains committed to ensuring that these reforms are fair, transparent, and beneficial to the public.

The proposed bills under review include:

Nigeria Tax Bill

Nigeria Tax Administration Bill

Nigeria Revenue Service Establishment Bill

Joint Revenue Board Establishment Bill

The Need for Tax Reform

Mr. Tajudeen highlighted that Nigeria’s current tax-to-Gross Domestic Product (GDP) ratio stands at just six percent, significantly lower than the World Bank’s recommended minimum of 15 percent for sustainable development.

He noted that tax revenues are essential for funding critical sectors such as education, healthcare, infrastructure, and security.

Despite Nigeria being Africa’s largest economy, tax compliance remains low, with only about 35 million Nigerians paying taxes and just nine percent of registered companies in the tax net.

The Speaker stressed that addressing these gaps is crucial to reducing reliance on debt financing and ensuring long-term fiscal stability.

Balancing Revenue Growth with Public Interest

While acknowledging the government’s goal of streamlining and broadening the tax base, Mr. Tajudeen reiterated that taxation must be fair, transparent, and justifiable.

He assured that the House of Representatives will thoroughly scrutinize the bills, making necessary amendments to safeguard Nigerians from undue tax burdens.

“We owe this duty to Nigerians, and as the people’s representatives, we must always be accountable to them,” he stated.

Call for Stakeholder Engagement

The Speaker urged all stakeholders, including tax experts, business owners, and the general public, to contribute meaningfully to the discussions.

He emphasized that public input is vital in shaping tax policies that will foster economic growth while ensuring that taxation remains equitable.

Similarly, James Faleke, Chairman of the Special Committee on Tax Reform Bills, stressed the urgency of tax reforms, citing data that shows Nigeria lags behind countries like South Africa (21.6%), Kenya (14.1%), and Senegal (19.1%) in tax-to-GDP ratio.

Reps

Reps

He noted that the country requires $3 trillion (₦1.8 quadrillion) over the next 30 years to bridge its infrastructure deficit, making tax reform a critical national priority.

As the House of Representatives continues its deliberations, Nigerians are encouraged to stay informed and actively participate in shaping a tax system that supports economic development while safeguarding citizens’ interests.

Stay tuned to StoryFlow Media for more update on tax reform bill and other political news!

Economy

U.S. Lawmaker Urges President Tinubu To Remove Matawalle Over Rising Attacks On Christians in Nigeria, Cites Relationship With Bandits

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Matawalle’s Leadership

U.S. Lawmaker Urges President Tinubu To Remove Matawalle Over Rising Attacks On Christians in Nigeria, Cites Relationship With Bandits

Relationship with bandits. She urged the U.S. to apply more diplomatic pressure to hold those accused of aiding terrorism accountable.

Kimberly Daniels, a Florida state representative and chairwoman of the United World Congress of Diplomats (UN-WCD), has charged President Bola Tinubu to sack or redeploy the Minister of State for Defence, Bello Matawalle, over rising attacks in the country.

Ms Daniels posted a statement containing her recommendations on tackling insecurity in Nigeria on her Facebook page on Wednesday.

“To The Government of Nigeria: The Results of the Assessment urge President Tinubu to ‘look inward’ and remove elements that compromise national security,” Ms Daniels said.

Ms Daniels’ recommendations specifically included: “Immediate Leadership Review: The removal or redeployment of Minister Bello Matawalle to restore the integrity of the defense ministry.”

She added: “Conducting a transparent investigation into allegations of high-level complicity with banditry to regain the trust of the Nigerian people and implementing more robust security measures for vulnerable communities in the North-Central and Northwestern belts of the country.”

Matawalle’s Leadership

Matawalle

To the U.S. government, Ms Daniels recommended increased “diplomatic pressure to ensure that those accused of aiding terrorism are held accountable.”

“Based on the referenced report, the attacks against believers in Northern Nigeria are allegedly protected by leadership from the inside,” she said.

She added, “The greatest form of terrorism a person can experience is terror that comes from ‘homegrown familiar enemies.’ When the people you trust to protect you work undercover with others who want to harm you, it must be devastating! My brothers and sisters in Nigeria are martyred because they gather to worship Jesus, while most Americans do not understand how precious our religious liberty is and the protections that come with it.”

Bayo Onanuga and Daniel Bwala, spokespersons for Mr Tinubu, have not responded to requests for comment.

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Economy

Nigeria, UAE Set To Advance Energy Cooperation: NNPC Ltd

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UAE Set To Advance Energy Cooperation

Nigeria, UAE Set To Advance Energy Cooperation: NNPC Ltd

Nigeria and UAE set to advance energy cooperation. Earlier today in Abuja, the Group Chief Executive Officer of NNPC Limited, Engr. Bashir Bayo Ojulari, paid a visit to the United Arab Emirates (UAE) Ambassador to Nigeria, H.E. Salem Saeed Al Shamsi, at the UAE Embassy.

The meeting highlighted the existing strong bilateral energy ties between Nigeria and the UAE, with discussions spanning upstream oil and gas investment opportunities, gas development and monetisation, crude oil trading, and infrastructure financing.

Both parties reaffirmed the sustained relations between the two nations, rooted in mutual respect and a shared commitment to long-term energy cooperation.

In his remarks, Engr. Ojulari said as a commercially driven entity, NNPC Ltd. offers a strong portfolio of bankable projects across the entire energy value chain, adding that the company remains open to value-based partnerships with UAE institutions, such as Abu Dhabi National Oil Company (ADNOC), Abu Dhabi Investment Authority (ADIA), and National Petroleum Construction Company (NPCC).

UAE Set To Advance Energy Cooperation

UAE Set To Advance Energy Cooperation

The visit builds on earlier cooperation commitments made by President Bola Ahmed Tinubu and President Mohammed Bin Zayed, as both countries work to translate that intent into concrete, mutually beneficial project outcomes.

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Akwa Ibom

Akwa Ibom Governor Eno Commends Quality Job Delivery By Contractors At Project Sites

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Akwa Ibom Governor Eno

Akwa Ibom Governor Eno Commends Quality Job Delivery By Contractors At Project Sites

Governor Umo Eno has expressed satisfaction with the quality and timely delivery of jobs by contractors at different project sites in the State.

Fielding questions from Government House Correspondents shortly after his inspection of the projects, Governor Eno reaffirmed his administration’s commitment towards ensuring that projects are properly monitored and appropriately funded in line with the contract agreement.

He explained that the routine on-the spot inspection avails him the opportunity to carry out critical assessment of key projects, monitor project timeliness, staff welfare, pace and quality of job execution and funding approvals.

“Mine is to make sure that the work is going on, we get our money’s worth, ensure contractors are on site and that they are doing what they are supposed to do.

“This inspection, for me, is to give me an on-the spot assessment, monitor our time lines. Everywhere I went to, I can tell you that I am satisfied at the pace of work, and the quality of work done,” he stated.

The Governor thanked the contractors for their commitment to their jobs, and urged them to keep to timelines and specifications while prioritizing the safety and welfare of staff.

“I belief that the contractors know that we will demand that they do the work according to our specification.

“I am not just checking the work, I also check the staff, to ensure that everything is going on well. So when I get an IPC on my desk, I know exactly what that payment voucher is addressing. All of these works you see me inspect today, I have payment vouchers waiting for me to sign off.

“So, I have to come to see and be sure that they have reached certain levels before we can make the next set of payments.”

Akwa Ibom Governor Eno

Akwa Ibom Governor Eno

Among projects inspected by the Governor were the Aviation Village, Legislators and Executive quarters at Dakkada Luxury Estate, Equipment Leasing Company, and the CNG Bus Terminal.

In the Governors team were the Secretary to the State Government, Prince Enobong Uwah, Executive Assistant/Chief Delivery Advisor, Mr. Aniefiok Johnson, members of the State Executive Council, and other government functionaries.

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