Tax Reform Bills: It’s Time to Grow Nigeria – Aderonke

Arabirin Aderonke, the technical assistant on broadcast media to the Executive Chairman of the Federal Inland Revenue (FIRS), Zacch Adedeji, has reacted to the tax reform town hall that was broadcast live on Channels TV.

The Tax Reform Bills have continued to generate controversy since President Bola Tinubu transmitted the same to the National Assembly.

Several stakeholders have rejected the move, asking for a withdrawal of the same from the National Assembly.

To shed more light on the bills, Channels TV organised a special town hall programme. It featured the Chairman of the Presidential Fiscal Policy and Tax Reforms Committee Taiwo Oyedele and a former Speaker of the House of Representatives Yakubu Dogara among others.

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Weighing in, Aderonke in a statement on Wednesday, said the discussions couldn’t have come at a better time, adding that “this was more than just a panel discussion; it was a call to action, a chance to understand the changes that will affect every Nigerian.”

The statement reads: “Tax reform in Nigeria is no longer just a topic of debate. It is a defining moment for the future of Nigerians, a time in the development of our tax system, which has often been criticized for being inefficient, unfair, and complicated. The new tax reform bills aim to change all of this by introducing ideas and rules. They seek to transform how Nigerians earn, work, and pay taxes.

“At the Stakeholder Session with Tax Consultants and Chief Financial Officers (CFOs), Mr. Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, led the conversation alongside other stakeholders, and provided clarity on what’s at stake. The takeaway couldn’t be clearer: these reforms are what Nigeria needs right now. They are here to grow the country.

“The new reforms are a vision that privileges the ordinary Nigerian over the elite, the entrepreneur over the bureaucrat. Small businesses, those the government has often failed to support, are finally being given a fighting chance. No longer burdened with corporate income tax if their annual turnover stays under N50 million, these businesses will now have the room to grow and contribute to the economy. This is not mere charity. It’s a realization that the future of Nigeria lies in the hands of those who are brave enough to start something from scratch. Tax exemptions from withholding tax, and simplified processes that forgo the need for audited financial statements, will keep more businesses in the formal sector, giving them the structure they need to thrive. This is growth. This is how we build the Nigeria we all dream of.

“But these reforms are about more than just business. They carry the promise of a better deal for the ordinary Nigerian, the ones who have been carrying the weight of an unfair tax system for far too long. The removal of taxes on food and the exemption of low-income earners from personal income tax shows a government that is finally listening. Nigerians spend so much just to get by, and the removal of these burdens is a gesture that goes right to the heart of our struggles. The system is finally recognizing the value of every citizen, regardless of their income level.

“The reforms also aim to tackle the problem of multiple taxes and levies that have historically strangled businesses. The introduction of a Tax Ombudsman promises to bring much-needed accountability to the system. This independent body will give businesses a place to turn when they feel aggrieved. Mr. Baba Yusuf, speaking from a regional perspective, noted that Northern Nigeria stands to gain the most from these reforms. The reforms aren’t just about leveling the playing field for the elites or the wealthy regions; they are about ensuring fairness and opportunity for all.”