Presidency Responds To Zulum, Accuses Him Of Misrepresenting Tinubu’s Tax Reform Proposals

Presidency Responds To Zulum, Accuses Him Of Misrepresenting Tinubu’s Tax Reform ProposalsThe presidency has provided further clarification on the tax reform bills proposed by President Bola Tinubu, which are currently before the National Assembly. A statement from the presidency explained that the reforms aim to streamline Nigeria’s tax administration and create a more conducive environment for businesses to thrive.....KINDLY READ THE FULL STORY HERE▶

The statement, issued by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, also debunked claims that the bills propose the dissolution of key government agencies, including the Tertiary Education Trust Fund (TETFUND), the National Agency for Science and Engineering Infrastructure (NASENI), and the National Information Technology Development Agency (NITDA). These claims had been made by Borno State Governor Babagana Zulum, who argued that some of these agencies oppose the tax reforms due to concerns about their funding.

Onanuga firmly rejected these allegations, emphasizing that the bills do not propose the abolition of any agency. He also clarified that the reforms are not designed to favor Lagos or Rivers States specifically, but are intended to improve the quality of life for all Nigerians, including those in disadvantaged regions. “The tax reform bills will not make any region poorer or destroy any section of the economy,” Onanuga stated.

The presidency further pointed out that the reforms are a response to longstanding complaints from businesses about over-taxation and the burdensome operating environment in Nigeria. The new proposals aim to consolidate multiple taxes into a single tax to support the key agencies while reducing the strain on businesses. This transition will take place gradually, with a phased approach until 2030, allowing affected agencies to explore alternative funding sources.

Onanuga also addressed concerns regarding the misrepresentation of the bill’s impact on agencies like TETFUND, NASENI, and NITDA, stating that these agencies are funded through taxes collected from businesses. He explained that the proposed reforms are designed to streamline the tax system and make Nigeria more competitive for investment, as many businesses have left due to the heavy tax burden.

“The tax reform bills seek to address the long-standing issues of over-taxation and a cumbersome tax system that have made Nigeria less attractive for investment,” Onanuga explained. He urged stakeholders and the public to properly understand the contents of the bills to avoid spreading misinformation.

The statement concluded with an appeal for leaders to be more measured in their public statements to avoid fueling unnecessary divisions. Onanuga encouraged citizens, including governors, traditional rulers, and civil society groups, to engage in the public hearings organized by the National Assembly to provide feedback on the proposed reforms.

“President Tinubu welcomes the public interest these bills have generated and calls for informed, fact-based discussions to guide the reform process,” the statement added.

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