Victor EzejaPresident of Nigeria’s Senate, Godswill Akpabio, has reemphasised the importance of President Bola Tinubu administration’s economic reforms, noting that they create a conducive environment for sustainable development in the country.
Akpabio stated this during his welcome address to President Tinubu, who appeared before a joint session of the National Assembly on Wednesday to present a proposed national budget for 2025.
Join our WhatsApp ChannelThe Senate President commended Tinubu for introducing the tax reform which he described as a “groundbreaking initiative.”
He said the tax reform bills -the Joint Revenue Board of Nigeria (Establishment) Bill, 2024; Nigeria Revenue Service (Establishment) Bill, 2024; Nigeria Tax Administration Bill, 2024; and Nigeria Tax Bill, 2024— “represent a monumental shift in our fiscal landscape.”
The 10th Senate leader said it is sad that many who have not taken the time to understand these bills are the ones criticising them the most.
“It is disheartening that those who have not taken the time to understand these bills are the loudest critics,” Akpabio stated.
“I urge all Nigerians, especially those in public office, to engage with these vital reforms thoughtfully.”
READ ALSO: National Assembly Extends 2024 Budget To June 2025
He noted that this initiative marks the first comprehensive tax reform since Nigeria’s independence, adding that it presents “a transformative opportunity for rejuvenating small and medium enterprises and enhancing the livelihoods of ordinary Nigerians.”
“These reforms will not only improve Nigeria’s revenue profile but also create a more conducive and internationally competitive business environment, transforming our tax system to support sustainable development,” he added.
On the area of infrastructure upgrade, the Senate President underscored the importance of projects like the Lagos-Calabar Coastal Highway, FCT roads reconstruction other parts of the country.
He called on his colleagues and all Nigerians to exercise patience and cooperate with the Tinubu’s administration that is taking bold steps to restructure the economy.
He stressed the need for Ministers and Heads of Departments to be prepared to respond promptly to requests for them to come before the National Assembly and defend their sectoral allocation
“We have observed concerning behavior from some ministers and heads of extraministerial departments, who sometimes neglect their duty to promptly submit to legislative oversight, sometimes even disregarding invitations from relevant Committees of the legislature. It is imperative they understand that we will not condone such breaches of the Constitution going forward,” Akpabio stated.
He assured Tinubu that the 2025 Appropriation Bill will be given expeditious consideration, adding that due process will be followed in passing the bills.
“We will do what is right and justifiable, conducting public hearings to ensure that the voices of Nigerians resonate within the budget, for all budgets belong to the people. If public sentiment necessitates adjustments to specific allocations, we will respond accordingly, ensuring that such actions are not misconstrued as padding.”
Victor Ezeja is a passionate journalist with six years of experience writing on economy, politics and energy. He holds a Masters degree in Mass Communication.
