By Abdullahi Mukhtar Algasgaini
The Speaker of the House of Representatives, Rt. Hon. Abbas Tajudeen, has stated that Nigeria cannot achieve significant progress unless its tax systems are reformed.
Speaking on Thursday in Abuja during a courtesy visit by the leadership of the Chartered Institute of Taxation of Nigeria (CITN), the Speaker noted the country’s struggles with revenue generation, adding that Nigeria ranks among the lowest in Africa in terms of tax collection.
Abbas stated that for businesses to thrive and the country to develop, there was an urgent need to overhaul the current tax system.
He explained that the House had recently passed the second reading of four tax reform bills submitted by President Bola Ahmed Tinubu, which he described as a historic move.
Abbas assured the CITN delegation that all relevant stakeholders, including the institute, would be engaged during public hearings on the proposed legislation by the end of February.
“I am one of those who believe that this country can never move forward if our tax systems remain the way they are,” Abbas said, stressing the importance of reforming the system to generate sufficient revenue.
He further pointed out that Nigeria’s tax system has not been restructured to meet the country’s development needs, particularly in terms of sectoral growth.
The Speaker also noted that the CITN’s goals align with the House’s 10th Legislative Agenda, and pledged collaboration with the institute to move Nigeria forward.
Earlier, the President of CITN, Mr. Samuel Olushola Agbeluyi, FCTI, mentioned that the institute would be celebrating its 42nd anniversary in February.
He highlighted CITN’s extensive reach, with 48 district societies worldwide, including in the U.S. and the U.K. Agbeluyi also praised the institute’s contributions to tax reforms, including the introduction of the Finance Act under the leadership of former President Muhammadu Buhari.
He further addressed the need for a strong attitude towards taxation, citing how the Nigerian National Petroleum Company Limited (NNPCL) failed to remit adequate revenue to the Federation Account, leaving the Federal Inland Revenue Service (FIRS) to intervene.
In his closing remarks, Agbeluyi stated that the purpose of the visit was to strengthen the relationship between CITN and the House of Representatives, ensuring that both entities work together for the nation’s collective progress.
The CITN delegation included senior members such as Prof. Salihu Mukailu, Prof. Mohammed Okara Mainoma, and Dr. J.K. Naiyeju, a former president of the institute, along with several other council members and aides.