Coalition of Arewa Groups Endorses President Tinubu’s Tax Reform Bill

The Coalition of Arewa Groups, representing 300 organizations across 19 northern states, has announced its support for President Bola Tinubu’s tax reform bills.

These bills include the Nigeria Tax Bill 2024, the Tax Administration Bill, the Nigeria Revenue Service Establishment Bill, which would replace the Federal Inland Revenue Service (FIRS) with the Nigeria Revenue Service (NRS), and the Joint Revenue Board Establishment Bill.

Despite opposition from Northern leaders, including traditional rulers, the Northern Governors Forum, and Senator Ali Ndume (APC Borno South), the Coalition stated its endorsement after a thorough review of the bills during a meeting in Kaduna on Friday.

Ndume previously condemned the bills, predicting they would be “dead on arrival” due to the economic challenges facing Nigerians.

He argued that current economic conditions make new tax measures untenable, stating, “Let people live first before you start asking them for tax.”

In contrast, the Coalition of Arewa Groups commended Tinubu’s vision to reshape Nigeria’s fiscal framework.

In a statement released on Sunday and signed by Alhaji Usman Abubakar and Obadiah Amos, the Coalition highlighted the bills’ potential to foster economic growth and sustainability.

“We, the Coalition of Arewa Groups, comprising 300 organizations across the 19 northern states, gathered in Kaduna on Friday to deliberate on President Bola Ahmed Tinubu’s tax bill.

After thorough examination, we unequivocally endorse the proposed legislation,” the statement read.

The Coalition also commended FIRS Chairman Zacch Adedeji for his media outreach efforts, which they said helped clarify the bill’s objectives.

Key provisions of the bill include:
– A gradual increase in Value Added Tax (VAT) from 7.5% to 15% by 2030.
– A Company Income Tax rate of 27.5% for large companies, decreasing to 25% by 2026.
– A 4% development levy on companies to support the Student Education Loan Fund.
– A 5% excise duty on lottery, gaming, and telecommunications services.

The Coalition praised these measures as steps toward economic development, revenue generation, and transparency, particularly with the bill’s provisions for monitoring publication costs and establishing fair pricing.

In conclusion, the Coalition urged the National Assembly to expedite the passage of the Nigeria Tax Bill 2024 to ensure prompt implementation, reinforcing their confidence in Tinubu’s commitment to Nigeria’s prosperity.