BREAKING: “North Is an asset, not a liability” — Ndume demands broader consensus on tax reform bills

Former Senate Leader, Senator Mohammed Ali Ndume, has reiterated his opposition to the Tax Reform Bills currently before the Senate, urging their withdrawal for broader consultations....CLICK HERE TO READ THE FULL ARTICLE➤

Speaking in Abuja on Sunday, Ndume emphasized that northern Nigeria is a vital asset to the country and dismissed claims portraying the region as parasitic.

“The North was, is, and will never be a parasite or dependent on any region or even the country. We are assets, not liabilities, to Nigeria,” Ndume declared, countering narratives that suggest otherwise.

Ndume criticized the current Tax Reform Bills, which propose the establishment of a Joint Revenue Board, a Tax Appeal Tribunal, and an Office of the Tax Ombudsman as part of President Bola Tinubu’s tax reform agenda. He argued that the reforms lack widespread consensus and could disproportionately burden low- and middle-income Nigerians across all regions.

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“I’m still insisting that the Tax Reform Bills be withdrawn for more consultations and buy-in from critical stakeholders, including state and local governments, as well as the private sector,” he said.

Ndume dismissed claims that the reforms specifically target northern interests, emphasizing that their adverse effects would be felt nationwide.

“Those who think the current tax reforms are only against northern interests are mistaken. The reality is that the reforms, as they stand, will negatively impact low- and middle-income Nigerians nationwide,” he added.

Ndume argued that governance reforms, rather than isolated tax reforms, should take precedence. He pointed to the high cost of governance as a major issue, noting that recurrent expenditures consume the majority of the country’s budget, leaving little for capital projects.

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“Our personnel and overhead expenditure for 2024 account for about 50 to 60 percent of the budget. Meanwhile, capital projects suffer from under-implementation, while recurrent expenditure is fully exhausted,” he said.

He urged the Federal Inland Revenue Service (FIRS) to expand the tax net and improve revenue collection efficiency instead of introducing measures that would further burden citizens.

“The FIRS should concentrate on expanding the tax net and collecting more revenue efficiently. Transparency and accountability must also be increased,” Ndume stated.

Ndume also called on the Central Bank of Nigeria (CBN) to ensure commercial banks contribute their fair share of taxes, particularly given their high profit margins.

“Commercial banks must be closely monitored to ensure they are paying the taxes they owe. They consistently declare high profits and must be held accountable,” he noted.

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While acknowledging the need for reforms, Ndume stressed the importance of timing and inclusivity.

“Yes, reforms are necessary, but they must be well-timed, prioritized, and carried out with the buy-in of Nigerians. This is a democracy—a government of the people, for the people, and by the people,” he stated.

He concluded by emphasizing the North’s contributions to the nation, rejecting any notion that the region is a burden.

“Our region contributes immensely to the country’s agricultural and economic output. We are an integral part of Nigeria’s progress and prosperity. Collaborative and inclusive efforts are key to achieving meaningful reforms that serve all Nigerians,” Ndume said. ...CLICK HERE TO READ THE FULL ARTICLE➤

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