Seriake Dickson, Chairman of the Senate Committee on Ecology and Climate Change, has assured that the National Assembly will pass the controversial tax reform bills, despite opposition from various groups.
Speaking to journalists in Abuja on Monday, Dickson emphasized that the bills would be approved just as the Petroleum Industry Bill (PIB) was passed, adding that there would be no catastrophic consequences when the tax bills are ultimately enacted into law.
The tax reform bills were transmitted to the National Assembly by President Tinubu on October 3, 2024.
The bills, which aim to strengthen Nigeria’s fiscal institutions, align with the President’s broader development goals for the country.
However, they have faced significant backlash from various stakeholders, including state governors, traditional rulers, civil society organizations, and lawmakers.
While the Senate has already passed the bills for a second reading, the House of Representatives has yet to act on them.
Dickson, a former Governor of Bayelsa State, dismissed concerns that the planned public hearing on the bills could lead to chaos without adequate consultations.
He urged critics of the bills to attend the hearings and present evidence-based arguments if they have concerns about any specific provisions of the proposed legislation.
Dickson also pointed out that, similar to the passage of the Petroleum Industry Act (PIA), the tax reform bills would pass without any adverse effects.
He recalled how lawmakers reduced the proposed 10% in the PIA to 3% and yet, “heaven did not fall.” He also highlighted the need to review the current tax-sharing formula, which he noted benefits other states, like Lagos, at the expense of Bayelsa.
Dickson stressed that the new tax laws present an opportunity to correct such imbalances and ensure that taxes from goods and services consumed within a state are returned to that state.
While acknowledging concerns from states worried about a reduced share of revenues under the new formula, Dickson emphasized that the process should be guided by facts and national interest rather than emotional sentiments.
