The Northern Union and 72 other Arewa groups have announced their support for President Bola Ahmed Tinubu’s Tax Reform Bills.
This endorsement comes on the heels of a Senate public hearing, where stakeholders gathered to discuss the proposed legislation.
According to the Northern Union, the Tax Reform Bills align with their organisation’s values of promoting economic growth, fairness, and simplicity.
The President of the group, Alhaji Adamu Muazu Garuba, said the proposed legislation will streamline tax administration, reduce compliance costs, and promote investment in key sectors.
Speaking on behalf of the groups after a public hearing in the Senate, Garuba commended the Senate Committee Chairman, Senator Sani Musa for his professional conduct throughout the hearing.
Garuba further praised Musa for displaying the highest level of accountability, neutrality and impartiality by ensuring that all Nigerians were heard.
“The benefits of the Tax Reform Bills to the North are numerous. A simplified tax system will attract investments, create jobs, and stimulate economic growth,” Garuba said.
” The reduction in compliance costs will ease the burden on taxpayers, enabling them to invest in their businesses and communities. Additionally, the increased revenue generated from the reforms will enable governments to fund critical infrastructure projects and social programs.
“The Tax Reform Bills will also promote fairness and equity in the tax system, eliminating multiple taxation and reducing the tax burden on low-income earners.
“This will promote social justice and reduce poverty in the region. Furthermore, the reforms will promote transparency and accountability in the tax system, building trust between governments and the people.”
In particular, Garuba said that the Tax Reform Bills will have a profoundly positive impact on the North.
He added: “A simplified tax system will attract investments, create jobs, and stimulate economic growth in the region. This, in turn, will lead to increased economic activity, improved living standards, and reduced poverty levels.
“As the North is a significant contributor to Nigeria’s economy, the benefits of the Tax Reform Bills will be felt across the country. The reduction in compliance costs will also ease the burden on taxpayers in the North, enabling them to invest in their businesses and communities.
“This will be particularly beneficial for small and medium-sized enterprises (SMEs), which are the backbone of the Northern economy. By reducing the tax burden on SMEs, the Tax Reform Bills will promote entrepreneurship, innovation, and job creation in the region.
“The increased revenue generated from the reforms will also enable governments in the North to fund critical infrastructure projects and social programs.
“This will help to address the region’s developmental challenges, such as inadequate healthcare, education, and transportation infrastructure. By investing in these critical areas, the North will be better equipped to unlock its economic potential and improve the lives of its people.”
Garuba, however, has urged all northerners to support the Tax Reform Bills, emphasising that these reforms are in their best interest.
He stated: “We urge all northerners to join us in supporting the Tax Reform Bills. These reforms are in our best interest and will promote economic growth, fairness, and simplicity.
“We must work together to ensure that these reforms are passed into law and implemented effectively. We also call on our lawmakers to expedite the passage of the Tax Reform Bills.
“We urge them to put aside their differences and work together to pass these critical reforms. The fate of our region and our people depends on it. Finally, we commend President Tinubu for his leadership and vision in proposing these reforms.”
