Omoluabi Parapo Group Endorses Tinubu’s Restructuring Agenda for a Brighter Nigerian Future

In a statement released by the Omoluabi Parapo Conservative Group to the press on Monday, November 4, 2024, their spokesperson, Aderonke Okeleye, voiced strong support for the restructuring initiatives recently introduced by President Bola Ahmed Tinubu. The group highlighted the president’s focus on tax reform, local government autonomy, and the creation of regional commissions as essential steps toward reducing corruption, enhancing transparency, and alleviating the economic strain on ordinary Nigerians.

The Omoluabi Parapo Conservative Group pointed out that many Nigerians are suffering due to the lack of government presence at the grassroots level, which has fostered inefficiency and corruption in resource allocation. “The existing system too often enables corruption, as resources are not delivered to the right channels,” Okeleye stated. She added that the president’s new tax reform policy is designed to ensure transparency and accountability, providing Nigerians with a system that supports rather than burdens them.

Regarding the issue of multiple taxation, the group welcomed the president’s tax reform as a critical step to streamline Nigeria’s tax legislation. Currently, the tax framework in Nigeria is fragmented across numerous laws, including the Companies Income Tax Act, Personal Income Tax Act, Capital Gains Tax Act, and others. “In enforcing these various tax laws, Nigerians experience unintended multiple taxation, which the new reform seeks to address,” Okeleye explained. She emphasized that the new legislation will simplify tax administration, reduce compliance burdens on citizens, and improve the ease of doing business in Nigeria.

A notable aspect of the reform is the amendment to the term “Inland” in the Federal Inland Revenue Service (FIRS) Act of 2007, which previously restricted the agency’s mandate to interior tax collection. With the new Nigeria Revenue Service (NRS) Act replacing FIRS, the government will now be able to capture significant offshore revenue. “This change enables the country to fully benefit from offshore transactions, maximizing revenue collection for Nigeria’s growth,” Okeleye affirmed.

The group also called on all Nigerians, particularly leaders in the Northern region, to support these reforms, acknowledging that the interests of the people should come first. “We believe the interest of Northern leaders lies in making life easier for their people,” Okeleye stated. She encouraged Northern leaders to prioritize the welfare of their constituents over personal interests and to endorse these tax reforms, which exempt essential goods and services from VAT and allow businesses to benefit from VAT deductions.

The Omoluabi Parapo Conservative Group concluded by reaffirming its commitment to advocating for a Nigeria where government policies promote economic relief, transparency, and an improved quality of life for all citizens.

God Bless the Federal Republic of Nigeria.

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