Tax reform bills will tackle bureaucratic hurdles in Nigeria — Group

A coalition of Niger Delta youth stakeholders has commended President Bola Ahmed Tinubu for advancing the Tax Reform Bill aimed at harmonizing multiple taxes into a single levy, reducing bureaucratic hurdles, and enhancing compliance for sustainable development and economic growth in Nigeria.

In a statement signed by its national leader, Bodmas Kemepadei, the coalition acknowledged the President’s commitment to addressing the challenges facing the nation, particularly in the Niger Delta region, and pledged unwavering support for his initiatives.

They noted that President Tinubu’s administration has undertaken significant steps to enhance transparency, boost investment, and empower local communities.

According to the coalition, these reforms are crucial not only for the prosperity of the Niger Delta but for the entire nation. The group believes that with these measures, Nigeria is on the path to achieving greater socio-economic stability and environmental sustainability.

“We are encouraged by President Tinubu’s proactive approach to governance and his dedication to uplifting the lives of our people,” said Bodmas.

He further stated, “His focus on infrastructure development, job creation, and youth empowerment resonates deeply with us. We believe that these reforms will pave the way for a brighter future for the Niger Delta and beyond.”

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“Despite widespread outcry from critics, President Tinubu has pressed forward with Tax Reform Bills aimed at harmonizing multiple taxes into a single levy, reducing bureaucratic hurdles, and enhancing compliance.

“By lowering the overall tax burden, the administration has introduced significant measures that will stimulate business activities, particularly for struggling enterprises.

“The theory behind the reforms posits that improved compliance and a broader tax base could significantly increase government revenue, enabling investments in public services. Revenue diversification is critical to reducing Nigeria’s dependence on oil and cushioning the economy against volatile global oil prices.”

The group also highlighted that Tinubu’s administration has introduced tax exemptions for low-income earners and essential goods to alleviate financial pressure on economically disadvantaged Nigerians.

They added that “the proposed ₦826 billion for education in 2025 aims to enhance literacy, skills acquisition, and workforce productivity. Similarly, ₦402 billion for healthcare seeks to improve health outcomes, directly impacting human capital development.”

The coalition praised Tompolo’s Tantita Security Services Nigeria Limited for its significant strides and achievements in the Niger Delta region, as well as its contributions to the Nigerian economy, leading to a ₦50.88 trillion rise in crude oil revenue in 2024, a milestone achievement as described by the NNPCL.

Data obtained from the Nigerian Upstream Petroleum Regulatory Commission, an agency of the Federal Government, confirmed that Nigeria produced a total of 408,680,457 barrels of crude oil in 2024, thanks to Tantita Security Services Nigeria Limited, NNPCL, the Nigerian Petroleum Minister, and other agencies, including the Administrator of the Presidential Amnesty Programme, Dr. Dennis Otuaro, for his leadership approach that has kept the Niger Delta region in relative peace.

The Coalition of Niger Delta Youth Stakeholders stands ready to collaborate with the federal government to ensure the successful implementation of these reforms.

“We urge our fellow youth in the region to engage positively and contribute to the nation-building efforts championed by President Tinubu and other leaders from the region, especially High Chief Ekpemupolo Oweizede (alias Tompolo), Dr. Dennis Burutu Otuaro (PAP Administrator), High Chief Kestin Pondi (TSSNL Managing Director), and other notable personalities.”

“In solidarity with the President’s vision, we call upon all other stakeholders, including local communities, civil society organizations, and the private sector, to join hands in supporting these transformative initiatives. Together, we can create a more prosperous and equitable Nigeria for all.”