*Over 200 Stakeholders Submit Memoranda on Tinubu’s Tax Reforms*
By Babagana Jidda
Kanempress
March 9, 2025
The Federal Government’s ambitious tax reform plan has taken a significant step forward with over 200 memoranda submitted to the Nigerian National Assembly. The public hearings on these proposed tax reforms, which attracted various stakeholders, were held to discuss potential changes to the nation’s tax laws.
The hearings, organized by both the Senate and the House of Representatives, provided a platform for government agencies, private businesses, tax professionals, and civil society groups to weigh in on the changes being proposed. Discussions centered on how the reform can boost revenue generation, promote economic growth, and address concerns from the business sector and the general public.
Diverse Opinions from Stakeholders
A wide range of opinions was shared during the hearings. Key issues such as expanding the tax base without overburdening businesses and individuals, the potential impact of Value Added Tax (VAT) adjustments, and income tax changes were raised by different groups. The National Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) emphasized the need for a simpler tax system to aid small businesses, while the Manufacturers Association of Nigeria (MAN) advocated for lower taxes on raw materials to avoid raising production costs.
The Nigerian Labour Congress (NLC) expressed concerns about the possible negative impact on low-income workers, urging for a progressive tax system where high-income earners and corporations carry a heavier tax burden. Civil society organizations, including Tax Justice Network Africa, stressed the importance of transparency and anti-tax evasion measures, particularly for multinational companies.
Concerns from Specific Sectors
Several sectors, including oil and gas, also voiced concerns about the potential impact of the reforms. Industry representatives called for a stable tax policy to ensure that they remain competitive on a global scale. Additionally, the
