…Says bill is anti-people, unjust
The Igbo Youths Progressive Forum (IYPF) has opposed the proposed tax reform bill introduced by President Bola Tinubu’s administration.
In a statement by its National President, Comrade Victor Onuoha Ukeh, the group said the bill is anti-people, unjust, and a clear attack on equity and fairness in Nigeria.
According to the group, at a time when Nigerians are struggling with high inflation, unemployment, and poverty, this proposed reform seeks to add further burdens on the already overwhelmed masses.
The group said: “It favours only a few industrialized states to the detriment of others, particularly the Southeast, which has fewer industries and is already marginalized in federal allocations and development projects.
“This bill disregards the principle of fairness by imposing excessive taxes on individuals and businesses without addressing the glaring inequality in the economic structure of the country.
“While industrialized states stand to benefit, less industrialized regions like the South East will suffer disproportionately. The bill not only worsens the economic divide but also jeopardizes the survival of small and medium enterprises, which are the backbone of Nigeria’s economy.
“Many of these businesses are already struggling, and additional tax burdens will cripple their operations, leading to job losses and a stagnation of economic growth.
“Furthermore, we are deeply alarmed by the proposal to transfer the funding of TETFund (Tertiary Education Trust Fund) to the national budget. This move is a death sentence for the agency that has been instrumental in improving tertiary education in Nigeria.
“TETFund’s independent funding structure has ensured that funds are allocated directly to developing infrastructure and improving the quality of education.
“Shifting this responsibility to the national budget will lead to inefficiency, bureaucratic bottlenecks, and chronic underfunding.
“This decision will cripple tertiary education and worsen the hardships already faced by Nigerian students, who are struggling with poor learning conditions, incessant strikes, and rising tuition fees.
“The proposed tax reform bill is not only anti-people but also a threat to the future of this nation. Placing heavier burdens on ordinary Nigerians while favouring a few wealthy states, undermines the principles of equity and fairness.
“We call on the National Assembly to reject this bill in its entirety and protect the interests of all Nigerians, particularly those from less industrialized regions like the South East.
“The Igbo Youths Progressive Forum will not stand by while policies that harm our people and the future of our youth are forced upon us. We demand a fair, inclusive, and just approach to governance that promotes unity and national development.
“An attack on education and economic equity is an attack on the nation’s future, and we will continue to resist such actions with all our strength.”
