The South-East Senate Caucus today expressed its refusal to endorse the recently proposed tax reform bills by President Bola Ahmed Tinubu’s administration, citing a lack of sufficient consultation and potential negative impacts on the region’s economy.
In a statement issued by the Caucus, the lawmakers emphasized the need for a more inclusive dialogue involving all relevant stakeholders, including state governments, business communities, and civil society organizations, before any major tax legislation is passed.
"We believe that tax reforms are essential for the country’s development, but these reforms should not be implemented in isolation or without proper consultation," said Senator Ifeanyi Ubah, the Caucus leader. "The South-East region, like many other parts of the country, is still grappling with the economic challenges of past policies. For tax reforms to be effective, they must be carefully tailored to address the unique circumstances of every region, especially ours."
The tax bills, which include proposals aimed at broadening the tax base and enhancing revenue generation, have sparked widespread debate across Nigeria. While the bills aim to streamline tax collection processes and improve the country’s fiscal health, critics argue that they may disproportionately burden businesses and citizens in economically vulnerable regions.
Senator Enyinnaya Abaribe, a member of the Caucus, stressed that the South-East Senate Caucus is committed to national progress but will not support policies that fail to consider the socio-economic realities of their constituents. "The government must listen to the concerns of all Nigerians before making decisions that affect their livelihoods," Abaribe said. "We urge the administration to initiate a broader, transparent consultation process to ensure that the voices of all regions are heard."
The Caucus also reiterated its commitment to working with the executive and fellow lawmakers to craft a tax policy that promotes sustainable economic growth, supports local businesses, and improves the welfare of Nigerians across all regions.