We’re Not Against Tinubu’s Tax Reform Bills – RMAFC

• Disowns media reports from official memo

Faced with its widely reported opposition to President Bola Ahmed Tinubu’s proposed tax reform bills currently before the National Assembly (NASS), the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) says its position on the issue has been largely misunderstood.

According to the Commission’s Chairman, Dr Mohammed Bello Shehu, who described the reports as “grossly misleading, false, and malicious”, there is no rejection of the bills by RMAFC as claimed in the media.

He said the RMAFC is passionate in supporting the President’s vision and working collaboratively with all relevant stakeholders to create a more sustainable and equitable fiscal future for Nigeria.

Briefing the media in Abuja on Tuesday, 10th December 2024, Dr Bello said being an active participant in the reform process, the Commission aligns fully with President Tinubu’s vision of creating an equitable and sustainable fiscal framework for Nigeria.

He said; “We applaud President Tinubu’s strong commitment to repositioning Nigeria’s revenue base through bold initiatives. The proposed tax reform bills are a significant step towards integrating untapped revenue sources, enhancing Nigeria’s revenue-to-GDP ratio, and positioning the country favorably among nations with high fiscal performance”.

On the Value Added Tax (VAT) allocation and derivation bill that continues to generate heated public discourse, Dr Shehu assured Nigerians RMAFC’s proactive involvement is to ensure the reform process follows global best practices

He explained that “As a responsible and patriotic institution, we have submitted a comprehensive memorandum emphasizing adherence to global best practices. This position aligns seamlessly with Mr. President’s vision”, insisting that the Commission does mot in anyway oppose the bills but rather has constantly provided professional advice to re-engineer the legislation for the overall good of the country.

Frowning at what he considered the widespread misinformation, the RMAFC Chairman said; “It is disheartening to note that, despite our explicit support for the proposed legislation, some individuals have chosen to peddle falsehoods for reasons best known to them.

“These inaccurate statements can undermine the ongoing efforts of patriotic Nigerians tirelessly working to support the President’s vision for the country”.

Noting that the controversial tax reform bills are undergoing consultations, with expert bodies providing inputs, Dr Bello cautioned against misinterpreting the RMAFC’s professional inputs during this process, saying; “The Commission is a critical stakeholder in Nigeria’s fiscal framework, and we take our responsibility to provide expert advice seriously.

“We have been working closely with the National Assembly to ensure the proposed legislation is robust, effective, and aligned with global best practices”.

The Chairman, who stressed that the reforms are meant to promote fiscal equity, reduce tax evasion, and increase revenue generation, said all these align with the Commission’s mandate amid the concerns about their potential impacts on businesses and individuals.

With assurances to stakeholders that the RMAFC is committed to address the issues through constructive engagement, Dr Bello said; “We understand the concerns raised by various stakeholders, and we are committed to ensuring that these reforms are implemented in a way that balances revenue generation with economic stability”.

He urged Nigerians to shun misguided representation of the Commission’s position in the tax bills and support President Tinubu’s fiscal reforms.

Also maintaining that “The media must play its role in promoting factual and constructive dialogue for the collective good of the nation”, the RMAFC boss stressed the need to rely on factual information to avoid unnecessary controversies.

For him, the media must uphold ethical standards and avoid spreading misinformation, which could derail efforts to strengthen Nigeria’s fiscal framework, adding; “At this critical juncture, the President needs the support of all Nigerians. Let us work together to support his vision for a more prosperous Nigeria”.