Senate President Godswill Akpabio has expressed disappointment over criticisms of the four tax reform bills currently before the National Assembly.
He criticized those opposing the bills, accusing them of failing to study their content before voicing dissent.
In his address during the presentation of the 2025 national budget to a joint session of the federal parliament, Akpabio stated, “It is disheartening that those who have not taken the time to understand these bills are the loudest critics. I urge all Nigerians, especially those in public office, to engage with these vital reforms thoughtfully.”
The bills, which include the Joint Revenue Board of Nigeria (Establishment) Bill, 2024, Nigeria Revenue Service (Establishment) Bill, 2024, Nigeria Tax Administration Bill, 2024, and Nigeria Tax Bill, 2024, represent the first comprehensive tax reform since Nigeria’s independence.
Akpabio noted, “These reforms will not only improve Nigeria’s revenue profile but also create a more conducive and internationally competitive business environment, transforming our tax system to support sustainable development.”
The Senate President praised the 2024 budget’s performance—50% for capital expenditure and 48% for recurrent expenditure—as a reason for extending its lifespan to June 30, 2025. He said, “The enabling law for this extension has already been put in place by this patriotic Assembly, ensuring we build upon the momentum.”
Akpabio emphasized the importance of oversight and warned Ministries, Departments, and Agencies (MDAs) to promptly defend their sectoral allocations, noting, “We will not condone breaches of the Constitution going forward.”
Highlighting the administration’s accomplishments, Akpabio commended President Bola Tinubu for bold decisions, including the removal of fuel subsidies and initiatives fostering economic stability. He celebrated the liberation of communities from terrorism, saying, “Today, no community is under the threat of terrorism. The reduction in kidnapping incidents and the neutralization of over 11,000 terrorists and insurgents is a testament to patriotism, strength, and determination.”
He also acknowledged improvements in foreign investment, infrastructure development, and social welfare programs, mentioning milestones such as increasing oil production to 1.8 million barrels per day, processing over ₦45.6 billion for student payments, and raising the national minimum wage to ₦70,000.
Akpabio urged Nigerians to endure the temporary hardships caused by economic reforms, likening the challenges to “the pains of childbirth.” He stated, “We are light-years away from where we began, though some rivers remain to be crossed.”
He concluded by rallying the National Assembly and guests with a chorus of “On Your Mandate We Shall Stand!” symbolizing support for the President’s vision.
[Vanguard]