IBY
Peterside Rejoice Eneky
Opening Address by His Excellency, Distinguished Senator Godswill Obot Akpabio, GCON, President of the Senate, at the Two-Day Public Hearing on the Proposed Tax Reform Bills, February 24-25, 2025
Protocols
It is both an honor and a privilege to welcome each and every one of you to this crucial Two-Day Public Hearing on the Proposed Tax Reform Bills—a transformative step forward in our collective journey toward economic renewal and prosperity for all Nigerians.
Today, we gather at a pivotal moment, one that calls us to reform, modernize, and optimize our tax system. This is not just a task; it is a profound responsibility we must embrace with courage, wisdom, and a steadfast commitment to the Nigerian people. As we look to the future, we must remember that a nation that fails to adapt its revenue system to the realities of our time risks stagnation and decline.
An old African proverb teaches us: “A bird that does not leave its nest will never know the richness of the forest.” Today, we are choosing to leave behind outdated tax practices and bureaucratic hurdles, spreading our wings toward a tax administration that is robust, transparent, and conducive to business.
This Public Hearing represents more than a legislative requirement; it is a call to collective action, a platform for dialogue where lawmakers, tax administrators, businesses, and citizens come together to craft a fair, transparent, and effective tax regime that reflects the interests of all Nigerians.
The proposed bills—SB 583, SB 584, SB 585, and SB 586—are thoughtfully designed to:
– Harmonize revenue administration across all tiers of government.
– Reduce the cost of tax collection and enhance compliance.
– Foster transparency, accountability, and efficiency in tax administration.
– Introduce digital innovations to simplify tax payments and close loopholes.
– Ensure fairness, protect vulnerable taxpayers, and create an environment ripe for economic growth.
The challenge before us transcends the simple act of passing new laws; it is about constructing a tax system that inspires confidence, promotes development, and fuels national growth. We cannot afford to be fragmented in our approach to revenue generation. Instead, we must come together—Federal, State, and Local Governments, alongside the private sector and civil society—to create a tax system that truly works for all.
I assure you that the 10th National Assembly is fully committed to enacting legislative reforms that will strengthen our economic foundation, empower our businesses, and enhance accountability within our government. The success of this Public Hearing hinges on your active engagement, and I encourage all stakeholders to contribute meaningfully to this dialogue.
Let us seize this moment, not just for ourselves, but for future generations, to lay the foundation for a stronger, more resilient, and prosperous Nigeria.
With that, I hereby declare open the Two-Day Public Hearing on the Proposed Tax Reform Bills.
Thank you, and may God bless the Federal Republic of Nigeria
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