A coalition of experts has endorsed President Bola Tinubu’s proposed Tax Reform Bills, asserting they will revitalise the northern economy and enhance sustainable development.
Speaking during a town hall meeting in Abuja, the experts dismissed allegations that the bills are anti-north, emphasising their potential to drive regional growth.
Dr Mustapha Abubakar, a chartered accountant, highlighted the economic benefits, noting that the reforms aim to broaden Nigeria’s tax base and improve compliance.
“The bills will positively impact the northern economy, increasing revenue, reducing poverty, and fostering economic growth,” he said.
Key provisions include reducing the federal government’s share of VAT from 15% to 10%, while raising states’ allocation from 50% to 55%.
“This adjustment ensures more funds for infrastructure, education, and healthcare in the north,” Abubakar explained.
Additionally, a gradual reduction of corporate income tax from 30% to 25% is expected to stimulate business operations, investment, and job creation.
Barrister Maxwell Batusan, from the Kano State Internal Revenue Service, praised the proposed Joint Revenue Board Establishment Bill for ensuring equitable tax distribution.
He also commended exemptions for small businesses earning below ₦50 million annually, saying, “This will boost entrepreneurship and innovation in the region.”
The event, chaired by Prof Malfouz Adedimeji of the African School of Economics, was organised by the Coalition of Northern Civil Society Groups and Concerned Northern Professionals.
“This reform package is transformative. It’s a vital step towards unlocking the economic potential of Northern Nigeria,” Batusan concluded.
