Tinubu Tax Reform Bill Will Cripple Economy Of The North -Gov. Zulum Warns

Borno State Governor, Babagana Zulum, has voiced strong concerns over the proposed tax reform bill, warning that it could have devastating consequences for the Northern region and other parts of the country.

Zulum criticised the speed with which the bill is progressing through the legislative process, drawing comparisons to the Petroleum Industry Bill, which took nearly two decades to pass.

Tinubu. But these bills will not be beneficial to us,” he noted.

Recall that the Senate on Thursday passed the tax reform bills for a second reading following a debate among lawmakers.

The bill was subsequently referred to the Committee on Finance, which was instructed to revert in no more than six weeks.

The four tax bills sent to the National Assembly include the Nigeria Tax Bill 2024, which is expected to provide the fiscal framework for taxation in the country, and the Tax Administration Bill, which will offer a legal framework for all taxes and reduce disputes.

Others are the Nigeria Revenue Service Establishment Bill, which will repeal the Federal Inland Revenue Service Act and establish the Nigeria Revenue Service, and the Joint Revenue Board Establishment Bill, which will create a tax tribunal and a tax ombudsman