President of the Senate, Godswill Akpabio has said that every citizen of Nigeria deserves a fair tax system, and the National assembly must ensure that the new tax reform is structured in a way that benefits everyone.
Akpabio who spoke at the opening of a two day public hearing on Tax Reform Bills, said efforts would the made to ensure that nobody feels unfairly burdened or penalized simply for trying to earn a living in the country.
He said that the public hearing was organised not just to debate but to make informed decisions that will shape Nigeria’s economy.
Akpabio disclosed that the National Assembly has been actively engaging various stakeholders, including young minds, to ensure inclusivity in governance.
According to him, the tax reform bills under consideration are not just about revenue collection but are about fostering economic growth and ensuring social equity.
“The tax reform bills we are discussing today are not just about revenue collection—they are about fostering economic growth and ensuring social equity.
“We recognize the misconceptions and concerns surrounding taxation, and we are determined to pass laws that truly benefit the majority of Nigerians.
“Effective taxation is not just about governance; it is about ensuring that our resources are managed efficiently to build a prosperous future.
“As members of the National Assembly, particularly the Senate, we are not here to make laws for the sake of making them.
“We aim to leave behind enduring legacies. Laws should serve the purpose of good governance and economic progress.
“In crafting these reforms, we are considering past challenges, current realities, and future possibilities to create a fair, efficient, and modern tax system.
“We recognize the misconceptions and concerns surrounding taxation, and we are determined to pass laws that truly benefit the majority.
“I hope these engagements continue until we have fully addressed all concerns, ensuring that our tax laws serve the best interests of the Nigerian people,” he said.
Apparently justifying the need for the tax reforms, Akpabio disclosed some of the existing tax laws date back to colonial times and require urgent modernization to reflect contemporary economic realities.
