The President of the Senate, Godswill Akpabio, has emphasized the critical role of the tax reform bills currently under public hearing at the Senate, describing them as the future of Nigeria.
He stressed the need to get the reforms right, assuring that the Senate would not rush the process but would conduct a thorough clause-by-clause review before passing the bills.
Speaking on Monday while declaring open the public hearing on the tax reform bills submitted to both chambers of the National Assembly by President Bola Tinubu on October 3, 2024, Akpabio highlighted a pressing issue: not more than 30% of Nigerians pay tax, yet citizens expect the government to provide world-class infrastructure, quality education, and national security.
He noted that Nigeria must begin to think outside the box, as continuing with outdated fiscal policies is unsustainable. According to him, once the tax reform bills are passed, the National Assembly will strengthen its oversight functions to ensure that government resources are spent efficiently and transparently.