Tax reform bill may threaten Nigeria’s stability — Expert

A chartered accountant and tax consultant, Alhaji Shuaib Idris, has raised concerns over the proposed tax reform bill in the National Assembly, warning that it could pose a threat to Nigeria’s unity if not handled with caution.

Speaking at a roundtable organised by the Kaduna Chamber of Commerce, Industry, Mines and Agriculture (KADCCIMA), Idris criticised the lack of broad consultations in drafting the bill, describing it as skewed towards the interests of a particular region.

He expressed frustration that despite calls for a review, the bill progressed to the second reading in the National Assembly.

Idris cautioned that the bill can exacerbate existing tensions in the country, noting that it appears to pit regions against each other.

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“This is not about North versus South. The real question is, where is the equity, fairness and transparency?” he asked.

He also lamented the increasing tax burden on Nigerians, particularly at a time when citizens are grappling with the removal of fuel subsidies and widespread poverty.

According to him, 80% of Nigerians are living below the poverty line, and any additional tax increase will ultimately burden consumers.

In his remarks, KADCCIMA President, Ishaya Idi noted that many Nigerians were unaware of the bill until it had advanced in the legislative process, adding, “It’s better late than never that discussions are now being held to address the issues.”