Senate President Godswill Akpabio has expressed disappointment over criticisms of the four tax reform bills currently under consideration in the National Assembly, accusing detractors of dismissing the proposals without proper understanding.
During the presentation of the 2025 national budget to the federal parliament, Akpabio urged Nigerians, particularly public officials, to approach the reforms with an open mind. He described the criticism as premature and called for more informed engagement, stating that the reforms are crucial to improving the nation’s revenue and fostering sustainable development.
The four bills represent the first major overhaul of Nigeria’s tax system since independence. Akpabio emphasized that the reforms are designed to enhance the country’s revenue profile and create a globally competitive business environment.
He also lauded the extension of the 2024 budget to June 30, 2025, which allocates 50% for capital expenditure and 48% for recurrent spending, as a step toward maintaining economic momentum. The Senate President stressed the importance of legislative oversight and cautioned Ministries, Departments, and Agencies against breaching constitutional provisions.
Akpabio praised the administration of President Bola Tinubu for bold decisions such as removing fuel subsidies and implementing policies aimed at stabilizing the economy. He highlighted achievements, including the liberation of communities from terrorism, the reduction of kidnapping incidents, increased oil production, improved infrastructure, and social welfare initiatives like the national minimum wage increase to ₦70,000 and the processing of ₦45.6 billion for student payments.
While acknowledging the temporary hardships caused by these reforms, Akpabio likened the challenges to the pains of childbirth, expressing optimism about Nigeria’s progress. He concluded by rallying support for the administration’s vision with a call to unity, declaring, “On Your Mandate We Shall Stand!”
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