President Bola Tinubu’s move to overhaul Nigeria’s tax system has continued generating views from concerned Nigerians. He recently forwarded four bills to the National Assembly for review and passage.
However, some northern elites, including governors and federal lawmakers, have rejected some parts of the bills. In an exclusive interview with Legit.ng, Titilope Anifowoshe, a legal practitioner, said the bills’ critics did not properly understand Nigeria’s fiscal realities.
According to Anifowoshe, governors who spend double or triple what they generate in their states would be the casualties of the bills, suggesting that it was time for such governors to look inward and boost their states’ economies.
Her statement reads:
“The proposed tax bill in Nigeria has sparked intense debate, with some critics arguing that it will harm the economy. However, if effectively implemented, I firmly believe this bill will contribute immensely to Nigeria’s development.
“The strongest critics of the reform seem to have a limited understanding of Nigeria’s fiscal realities, past, present, and future. They fail to recognize the potential benefits of a more streamlined tax system.
“For instance, the proposed bill suggests that individuals earning N1.5 million or less per month will see a decrease in their personal income tax obligations. On the other hand, those earning higher amounts will face incremental increases in their tax rates, eventually reaching 25 per cent. Moreover, lower-income earners will be fully exempt from personal income tax, which is a significant relief.”
Who will be affected by the bill?
Anifowoshe further noted that:
“States spending triple and double what they earn may not find the new reform comfortable, but it is high time we started to cut our coats according to our sizes.
“These provisions demonstrate a clear effort to reduce the tax burden on low- and middle-income earners while ensuring that high-income individuals contribute their fair share to the country’s development.
“I do hope that President Bola Tinubu will strengthen the fight against corruption because if we must pay taxes we must see the effectiveness of the taxes.”
Tinubu speaks on stampedes in Abuja, Anambra
Legit earlier reported that President Bola Tinubu has said he had cancelled all official events scheduled for Saturday, December 21, over the recorded deaths at stampedes in the FCT and Anambra state.
Tinubu said the move was to more the victims of the stampede and sympathise with their families.
The president then called on states and other stakeholders to adopt effective crowd control in situations like this and urged event organisers to adhere to all directives to avert such situations.
