National Telescope national telescope newspaper
By Ekpenyong Emmanuel
Senate President Godswill Akpabio has lauded President Bola Tinubu’s tax reform bills as a “groundbreaking initiative” aimed at transforming Nigeria’s financial structure. Speaking at the National Assembly during Tinubu’s presentation of the 2025 budget estimates, Akpabio assured the president of the National Assembly’s support to ensure the timely passage of the four tax bills, which include the Joint Revenue Board of Nigeria (Establishment) Bill, Nigeria Revenue Service (Establishment) Bill, Nigeria Tax Administration Bill, and Nigeria Tax Bill.
Akpabio expressed disappointment over criticisms of the reforms, emphasizing the need for Nigerians, especially public officeholders, to engage thoughtfully with the bills. He stated, “It is disheartening that those who have not taken the time to understand these bills are the loudest critics. I urge all Nigerians, especially those in public office, to engage with these vital reforms thoughtfully.” He highlighted the reforms’ potential to enhance small and medium enterprises, improve revenue generation, and foster a competitive business environment.
Highlighting Tinubu’s achievements, Akpabio noted significant progress made by the administration, including doubling government revenues to NGN 18.32 trillion, reducing debt servicing expenditures, increasing oil production, and implementing the Compressed Natural Gas initiative. He also praised efforts to boost infrastructure development, tackle insecurity, and improve international relations. According to Akpabio, “Your administration has processed over 45.6 billion Naira for student payments, signed the National Minimum Wage Law, and raised the national minimum wage to N70,000 a month, all while providing over N570 billion in financial support to the 36 states.”
The Senate President pledged that the Legislature would expedite the budget review process but warned against delays by ministers and agency heads in defending their allocations. He stressed that the National Assembly would not tolerate neglect of invitations for oversight duties. “It is imperative they understand that we will not condone such breaches of the Constitution going forward,” Akpabio said, reaffirming the Legislature’s commitment to collaborating with the executive for national development.
