The Chairman of the Presidential Tax Reform Committee, Taiwo Oyedele, has urged Nigerians not to let a few grey areas in the proposed tax reform bills hinder their passage. His remarks came amid growing controversy following the submission of the bills to the National Assembly by President Bola Tinubu.
Prominent northern leaders have vocally opposed the bills, claiming they are disadvantageous to the region, while the National Economic Council, comprising all 36 state governors, has advised President Tinubu to withdraw the bills for broader consultations. Despite these concerns, President Tinubu has expressed a preference for allowing the bills to undergo the legislative process.
Speaking on a Channels Television Townhall Monday, Oyedele emphasized the significant benefits of the reform, noting that the bills contain over 200 transformative provisions that could help steer Nigeria toward prosperity. “These bills have more than 200 transformative provisions to fix our country and set us on the right path to prosperity,” Oyedele said.
He urged Nigerians not to focus on the few contentious provisions but instead look at the broader picture. “We should not allow one or two provisions that we can easily discuss and agree on to become the pain or the bottleneck,” he added.
Oyedele further revealed that more than 90% of Nigerians support the tax reform, despite the disagreements on certain aspects. He pointed out that the provisions under dispute are relatively minor and can be resolved through dialogue.
The Chairman also highlighted some key benefits of the reform, including the exemption of low-income earners from paying taxes and a reduction in the Pay-As-You-Earn (PAYE) tax for middle-income earners. These measures, according to Oyedele, will reduce the overall tax burden on Nigerian workers by over 90%.
As the controversy surrounding the proposed bills continues to unfold, Oyedele remains confident that the benefits will ultimately outweigh the concerns, provided that the legislative process is allowed to play out.
