The Nigerian Senate continues to grapple with debates surrounding the contentious Tax Reform Bills, which aim to revamp the nation’s tax system. This comes as the South-South caucus of the Senate held an emergency meeting to reaffirm its support for the proposed legislation. The caucus expressed optimism that the reforms would boost national revenue and enhance economic stability.
In a communiqué signed by Senator Seriake Dickson (Bayelsa West), the group declared its commitment to a thorough evaluation of the bills, emphasizing the importance of ensuring they align with the collective interest of Nigerians. The senators also urged stakeholders to avoid divisive sentiments during discussions on the reforms.
Part of the communique signed by Senator Seriake Dickson (Balyesa West) read, “We, the Senators of the Federal Republic of Nigeria from the South-South geopolitical Zone, met on Wednesday, December 4, 2024, to deliberate on key national issues and the role of the Senate in advancing the collective interest of the country.
“Recognizing the importance of tax reforms in enhancing national revenue and fostering economic stability, we resolved to support the Tax Reforms Bills.
“This support will be anchored on a comprehensive study and thorough evaluation of the content of the Bills to ensure they align with the overall interest of Nigerians, particularly the well-being of the South-South region.’’
The caucus called for restraint ‘’on the part of those bent on introducing sentiments, whether regional, ethnic or tribal to a national dialogue and looks forward to robust interactions and consultations as already commenced by the Senate of the Federal Republic of Nigeria.’’
“We remain committed to working collaboratively with our colleagues across the Senate and all stakeholders in fostering a legislative agenda that guarantees the peace, prosperity, and progress of our beloved nation,” the southern senators assured.
The lawmakers also passed a vote of confidence in the leadership of the Senate President, Godswill Akpabio.
They said, “The South-South Senators unanimously agreed and passed a vote of confidence in the Senate President of the Federal Republic of Nigeria.
“We reaffirm our unwavering commitment to standing by him and supporting his leadership in steering the Senate toward its constitutional mandate of making laws that serve the best interests of the nation and its citizens.
“We pledge our full support to the Senate President and the leadership of the National Assembly in their efforts to ensure the effective and timely passage of legislation aimed at promoting good governance, national unity, and economic development.’’
Meanwhile, a special committee, led by Senator Abba Moro (Benue South), has been tasked with liaising with the Attorney General of the Federation to resolve issues in the bills. The committee includes key senators from various regions to ensure balanced representation.
The bills have sparked debates across the country, with some lawmakers and governors expressing concerns about provisions such as the proposed Value-Added Tax (VAT) increase from 7.5% to 10%. Critics argue that the reforms could burden Nigerians further, particularly the poor. However, proponents highlight exemptions for businesses earning less than ₦50 million annually and provisions that shield minimum-wage earners from taxation.
Senate Leader Opeyemi Bamidele dismissed claims of legislative withdrawal, stating, “The Senate remains committed to deliberating and addressing concerns in the public interest.”
