The presidency has dismissed allegations that its proposed tax reform bills are designed to disproportionately benefit Lagos and Rivers states or lead to the dissolution of critical federal agencies such as TETFund, NASENI, and NITDA.
In a statement issued on Monday, Bayo Onanuga, Special Adviser to the President on Information and Strategy, condemned critics for spreading misinformation and attempting to incite public discontent over the reforms.
Onanuga described recent commentary from political actors and analysts as “ungrounded in facts, reality, or sufficient knowledge of the bills,” lamenting that some have sought to polarize the country or pit regions against each other.
He clarified that the tax reforms are not designed to make Lagos or Rivers more affluent than other states but aim to enhance the quality of life for all Nigerians, particularly disadvantaged groups striving to earn a living.
“Contrary to the lies being peddled, the bills do not suggest that NASENI, TETFUND, and NITDA will cease to exist in 2029 after the passage of the bills,” Onanuga stated.
He explained that these agencies are funded through budgetary provisions and company income taxes paid by businesses.
However, overburdening businesses with special taxes has been a longstanding concern among private sector players.
“One reason President Bola Tinubu embarked on the Tax and Fiscal Policy Reforms is the need to streamline tax administration in Nigeria and make the operating environment conducive for businesses,” he added.
Onanuga emphasized that the reforms are intended to reduce the complexity of Nigeria’s tax system, which has discouraged investment and hindered economic growth.
“For decades, businesses, investors, and private sector players in Nigeria have complained of being overburdened by a myriad of taxes and levies, including those earmarked to fund various government agencies and initiatives,” he said.
He reiterated that the multiple tax system creates an uncompetitive economic environment, making it difficult for businesses to grow or even survive.
The presidency assured Nigerians that the proposed reforms would provide a more sustainable and equitable tax framework, fostering economic development and creating an enabling environment for investments while ensuring fairness in resource distribution across the country.
