Tax reform bills: Reaction trails National Assembly's public hearing

• A coalition of 100 civil society groups, the Situation Room on Economic Reforms, has praised The National Assembly for conducting a transparent public hearing on tax reform bills
• The group commended Senate Finance Committee Chairman Senator Sani Musa and House Finance Committee Chairman Rt. Hon. James Faleke for fostering inclusive dialogue
• Expressing optimism about the reforms, the coalition urged other committees to adopt similar transparency

Abuja, FCT - The Situation Room on Economic Reforms, a coalition of 100 civil society organizations in Nigeria, has commended the National Assembly Committees on Finance for conducting what it described as a fair and transparent public hearing on tax reform bills.

The hearing, held last week, brought together individuals, government agencies, private sector representatives, and other stakeholders to contribute to the legislative process aimed at reforming Nigeria’s tax framework.

Lawmakers hailed for transparency and accountability

Speaking at a press conference in Abuja on Sunday, March 2, Barrister Johnson Alli, a representative of the coalition, said the inclusive approach adopted by the committees demonstrated their commitment to ensuring that Nigerians’ voices were heard.

Alli specifically lauded Senate Finance Committee Chairman Senator Sani Musa and House of Representatives Finance Committee Chairman Rt. Hon. James Faleke for their leadership, highlighting their efforts in fostering constructive dialogue between stakeholders and lawmakers.

"The tax reform bills have far-reaching implications for Nigeria's economic development, and the input gathered during the public hearing will play a crucial role in shaping the final legislation," Alli said.

Coalition speaks on potential impact of tax reform

The coalition stressed the need for tax reform to create a more equitable and efficient system that promotes economic growth and reduces inequality.

According to Alli, the legislative process presents an opportunity for the government to review the existing tax structure and introduce reforms that will benefit all Nigerians.

He praised Senator Musa’s leadership, describing his ability to facilitate discussions as "exemplary" and commending his committee’s efforts in recognizing tax reform as a critical driver of economic growth and development.

Similarly, Hon. Faleke was lauded for his participatory and collaborative approach to legislation.

"His dedication to ensuring that the voices of Nigerians are heard is truly commendable," Alli said, adding that Faleke’s cooperation with Musa and other stakeholders had strengthened the legislative process.

Group calls for broader legislative adoption

The coalition urged other National Assembly committees to emulate the example set by the finance committees, stressing that transparency and inclusivity should be central to all legislative efforts.

Expressing optimism about the legislative process, the Situation Room on Economic Reforms said it hoped for a tax system that fosters economic development, reduces inequality, and benefits all Nigerians.

"We wish to assure Nigerians that with Senator Sani Musa and Hon. James Faleke, the country is in good hands," Alli said."We have every confidence that they will continue to work tirelessly to ensure that the tax reform bills are passed in the best interest of Nigerians," he added.

Read more tax reform bills:

• Tales From Public Hearings on Tax Reform Bills as Labour Unions Raise Concerns
• Nigeria Customs Flags Conflicts in Proposed Tax Reform Bills
• House of Reps Pass Tax Reform Bills for Second Reading, Details Emerge

Taiwo Oyedele lists benefits of Tinubu's tax reform bills

Earlier, Legit.ng reported that Taiwo Oyedele, the chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, listed ways tax reforms will benefit Nigerians.

In a post recently shared on his verified X account, Oyedele highlighted how the tax reforms will positively affect Nigerians, both directly and indirectly.

He explained under various headings, which include households and individuals (including the youth), small businesses, businesses and investments, high-income earners and HNIs, and subnational governments.

PAY ATTENTION: Сheck out news that is picked exactly for YOU ➡️ find the “Recommended for you” block on the home page and enjoy!

Source: Legit.ng