The Presidency has dismissed widespread misinformation surrounding the Tax Reform Bills currently under consideration by the National Assembly, assuring Nigerians that no provisions within the proposed legislation will lead to the scrapping of key government agencies or impoverish any region.
In a statement released on December 2 by Bayo Onanuga, Special Adviser to the President on Information and Strategy, the Presidency described the rumours as politically motivated attempts to mislead the public and polarize the nation.
Onanuga emphasised that the reforms aim to streamline Nigeria’s tax administration, ease the financial burden on businesses, and create a more competitive economic environment.
Onanuga clarified that contrary to claims, the legislation does not propose the dissolution of agencies such as the National Agency for Science and Engineering Infrastructure (NASENI), Tertiary Education Trust Fund (TETFUND), or the National Information Technology Development Agency (NITDA).
He explained that one of the central objectives of the reform was to replace multiple taxes with a single consolidated tax. This measure is intended to alleviate the overburdened private sector and boost Nigeria’s investment appeal.
“Businesses, investors, and private sector players have long lamented the numerous taxes levied upon them, which complicate the economic environment and drive many to relocate operations abroad,” he said.
According to Onanuga, the proposal in Section 59(3) of the Nigeria Tax Bill, the new tax system will gradually phase out earmarked taxes for certain agencies by 2030, allowing them to transition to alternative funding sources, including budgetary allocations.
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He stressed that changing an agency’s funding source does not equate to abolishing it, noting that globally competitive nations do not rely on earmarked taxes for funding education, science, or technology agencies.
He added that President Bola Tinubu called on Nigerians, including political leaders, traditional rulers, civil society groups, and other stakeholders, to participate in the forthcoming public hearings organised by the National Assembly.
The hearings offer an opportunity to provide constructive feedback on how best to reform Nigeria’s tax system.
He also urged commentators to prioritize fact-based discussions over divisive rhetoric. “Leaders should be measured in their utterances to avoid inflaming passions or polarizing the country unnecessarily,” the statement advised.
He underscored the urgent need for tax reforms, arguing that the current outdated system hampers economic growth and development.
Onanuga assured Nigerians that the proposed changes are designed to improve the quality of life for all citizens, particularly the disadvantaged fostering national prosperity.
He encouraged the public to stay informed, seek clarity, and contribute meaningfully to discussions on the bills rather than succumbing to politically motivated misrepresentations.
