Again! Ndume condemns Tinubu’s tax reform bills

The senator representing Borno South, Mohammed Ali Ndume, has once again condemned the proposed tax reform bills under President Bola Ahmed Tinubu’s administration.

The senator in a statement issued on Sunday, warned that the implementation of these reforms could exacerbate the already severe economic challenges facing Nigerians.

The senior member of the All Progressives Congress (APC) criticized the timing of the reforms, suggesting that it may place additional financial strain on citizens and businesses.

He urged the government to reconsider its approach, emphasizing that the current economic climate may not be conducive to such significant fiscal changes.

“These reforms may worsen the current economic hardship. I insist that the tax reform bills be withdrawn for broader consultations with critical stakeholders, including state and local governments and the private sector,” Ndume said.

The lawmaker argued that the Federal Inland Revenue Service (FIRS) should focus on expanding the tax net and improving collection efficiency rather than introducing additional taxes.

“The FIRS should concentrate on expanding the tax net and collecting more revenue. Additionally, there must be greater accountability and transparency in the management of public funds,” he stated.

He also called for increased scrutiny of commercial banks, emphasizing that their significant annual profits should translate into higher tax contributions.

Ndume further stressed the need for structural reforms within the government, highlighting the imbalance in Nigeria’s budget allocation.

“Our personnel and overhead expenditure for 2024 accounts for 50 to 60 per cent of the total budget. Yet, as we approach the end of the year, only 20 per cent of the capital budget has been implemented, while recurrent expenditure has been fully exhausted,” Ndume revealed.

He argued that addressing inefficiencies in government operations, rather than imposing additional taxes, would yield better outcomes for the country’s economy.

Rejecting regional stereotypes, Ndume reaffirmed the North’s role as a contributor to national development, countering claims of dependency.

“The North is an asset, not a liability. All states and zones need one another for socio-economic survival and development,” he asserted.

Ndume emphasized the importance of prioritizing and timing reforms correctly to gain public support and ensure their effectiveness.

“Even with reforms, you must prioritize, time them correctly, and secure the buy-in of Nigerians because this is a democracy – government of the people, for the people, and by the people,” he concluded.