Adamu Garba, a former presidential aspirant in the All Progressives Congress (APC), has urged the northern governors to accept President Bola Tinubu’s tax reform bills and look inward to generate internal revenue for their states......Read The Full Article>>.....Read The Full Article>>
Garba, a business mogul, noted that the tax reform bills have more advantages than disadvantages and urged the governors to explore farming and industries for internal revenue rather than relying on federal allocations.
Why northern governors are against Tinubu’s tax bills
The northern governors are vehemently opposing the tax reform bills, citing concerns that the proposed legislation would further economically marginalize the region. The governors argued that the bills, which include the Joint Revenue Board of Nigeria (Establishment) Bill, the Nigeria Revenue Service (Establishment) Bill, the Nigeria Tax Administration Bill, and the Nigeria Tax Bill, would disadvantage northern states and other less industrialized regions.
Also, the proposed transition to a derivation-based model for Value-Added Tax (VAT) distribution was a major point of contention. Currently, VAT is remitted based on the location of company headquarters rather than where goods and services are consumed. The governors fear that this change would negatively impact the revenue distributed from the Federal Accounts Allocation Committee.
Borno State Governor Babagana Zulum has been vocal in his opposition to the tax reform bills, stating that they would be detrimental to the northern region. Similarly, Senator Ali Ndume has expressed concerns about the timing and content of the bills, arguing that governance improvements should come before tax reforms.
However, Garba had a different opinion. He wrote on his X page:
“Passed or not, the Tax Reform Bill has opened a pandora box of structural deficiencies and economic inadequacies that must be addressed with the greatest sense of urgency.”
See the full statement here:
South-south senators endorse Tinubu’s tax reform bills
Legit earlier reported that President Tinubu’s tax reform bills have continued to generate reactions from concerned Nigerians and groups.
This is as 18 senators from the south-south region of the country announced their support for the bill.
Show APC pepper, what they did in Edo, Ondo will be revealed – Seyi Makinde
The federal lawmakers also backed Senate President Godswill Akpabio’s leadership while giving reason for their support of the bills.
