Tax Reform Bills: Nigerians Experiencing Paranoia, Says Prof Adamu 

Nigerians are experiencing paranoia over the Tax Reform Bills, according to Ahmed Adamu, an Associate Professor in the Department of Economics at Nile University of Nigeria.

He said this on Friday’s edition of Channels Television’s Sunrise Daily.

It “tells you that Nigerians are experiencing paranoia” in relation to Nigerians and how they accepted (the tax bill) without going into specifics. This is stemming from the two famous policies of Tinubu’s administration, which are the removal of fuel subsidy and the floating of the dollar”, he said.

“These two policies have hit the economy, so Nigerians are now skeptical about anything that is coming from this administration”.

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This is in light of the Senate’s second reading of President Bola Tinubu’s Tax Reform Bills, which he sent in October.
The four tax bills include:
– the Federal Internal Revenue Service, which will be replaced by the Nigerian Revenue Service.
– the Tax Bill 2024 for Nigeria, which will set the country’s fiscal policy.
– the Tax Administration Bill, which will lessen disputes and establish a legal framework for all taxes in the nation.
– the creation of a tax tribunal through the Joint Revenue Board Establishment Bill.

Key stakeholders in the nation have since called for a review, and the decision has since sparked controversy.

While Adamu acknowledged that the Tax Reforms Bills, which were introduced under President Tinubu, are effective, there are still areas where they need to be revised to ensure that the people are taken care of.

Senators reacted to it being crammed into the business schedule of the day, Adamu said, adding that even some senators were not even present.

Source: Channels TV