Atiku to NASS: Ensure transparency in tax reform hearings

Former Vice President Atiku Abubakar has spoken out on the contentious tax reform bills proposed by President Bola Tinubu.

Atiku’s statement follows the National Economic Council’s (NEC) recommendation to withdraw the Tax Reforms Bill, currently before the National Assembly.

In a statement released on Sunday, Atiku emphasized the need for a fiscal system that promotes justice, fairness, and equity. He noted that Nigerians are united in their demand for a system that avoids exacerbating the uneven development of the federating units.

Atiku also stressed the importance of objectivity and transparency in the public hearing being organized by the National Assembly. He argued that these elements are crucial for fostering accountability, good governance, and public trust in policymaking.

He urged the National Assembly to revisit and publish the resolutions of the NEC, describing it as a key stakeholder and constitutional advisor to the President on the Federation’s economic affairs.

His words:
“I have followed the intense public discourse on the Tax Reform Bills with keen interest.

“Nigerians are united in their call for a fiscal system that promotes justice, fairness, and equity. They are loud and clear that the fiscal system we seek to promote must not exacerbate the uneven development of the federating units by enhancing the status of a few states while unduly penalizing others.

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“I call for objectivity and transparency in the conduct of the public hearing being organized by our representatives in the National Assembly. As a concerned stakeholder, I firmly believe that transparency and objectivity are essential for promoting accountability, good governance, and public trust in policymaking. The public hearing process must facilitate open and inclusive participation by all stakeholders, including Civil Society Organizations, traditional institutions, politicians, public officials, and subject matter experts.

“In this wise, I call on the NASS to revisit and make public the resolutions of the National Economic Council, a key stakeholder and an important organ of the state with the constitutional power to advise the President concerning the economic affairs of the Federation.

“The NASS must be appropriately guided and ensure that in the final analysis, the contents of the Bills align with the interests of the vast majority of Nigerians.”

The Senate recently passed the bills for second reading despite opposition from some lawmakers. The bills have been referred to the Committee on Finance, which has been tasked to report back within six weeks.

The tax reform bills propose significant changes to Nigeria’s tax system, including increasing Value Added Tax (VAT) from 7.5% to 10% by 2025. Additionally, they suggest a 5% excise duty on telecommunications services and a 5% excise tax on lottery and gaming income.