70% Of Nigerians Don’t Pay Tax Despite High Expectations From Gov’t – Akpabio
Senate President, Senator Godswill Akpabio, has revealed that only about 30% of Nigerians pay taxes to the federal government, despite the public’s high expectations for improved infrastructure, education, and security.
Akpabio made this statement during the opening of a public hearing on four tax reform bills presented to the National Assembly by President Bola Tinubu on October 3, 2024. He emphasized the importance of tax reforms, stating that Nigeria could no longer afford to continue its current trajectory without significant changes.
The Senate President also highlighted that once the bills are passed, the National Assembly would prioritize oversight to ensure government resources are effectively managed. He urged Nigerians to carefully review the bills rather than rely on social media for information, criticizing leaders who commented on the legislation without fully understanding the contents.
“I am staying for two days to participate because I am tired of social media,” Akpabio remarked, noting that many leaders criticized the bills without reading them.
The chairman of the Senate Committee on Finance, Senator Sani Musa, shared that the public hearings would address bills such as the Joint Revenue Board Establishment Bill and the Nigerian Revenue Services Bill. He noted that 71 stakeholder groups had been invited to participate, as both the Senate and the House of Representatives had completed the second reading of the reform bills.
The primary goal of the tax reform bills, according to Musa, is to enhance tax administration and collection, ultimately boosting government revenue to drive economic development. He underscored the need for investments in infrastructure, education, agriculture, and other critical sectors for Nigeria’s progress.
The tax reform bills under review include the Nigeria Tax Bill (NTB) 2024, the Nigeria Tax Administration Bill (NTAB) 2024, the Nigeria Revenue Service (Establishment) Bill (NRSEB) 2024, and the Joint Revenue Board (Establishment) Bill (JRBEB) 2024. These bills have already passed the second reading in the Senate and are now being scrutinized by the Standing Committee on Finance.
Attendees at the public hearing included the Minister of Finance and Coordinating Minister of the Economy, Wale Edun; Attorney-General of the Federation, Lateef Fagbemi (SAN); Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji; and Comptroller-General of the Nigeria Customs Service (NCS).
