The Pan-Yoruba socio-political organization, Afenifere, has thrown its weight behind the proposed tax reform bills, citing their potential to stimulate economic growth across Nigeria. The group expressed optimism that the reforms would lead to improved revenue generation and equitable resource distribution, benefiting all regions, including the northern part of the country.
In a statement issued by the group’s Organising Secretary, Abagun Omololu, Afenifere emphasized the strategic importance of the bills in revitalizing Nigeria’s struggling economy.
“Afenifere is in support of the tax reforms for their promise of economic revival. We have noted that the bills are a crucial step towards stimulating the Nigerian economy. With the proposed tax system reform, we hope to see an improvement in revenue generation at both federal and state levels,” Abagun stated.
He highlighted the significance of these reforms in addressing the funding gaps for critical infrastructure and social services. According to him, such improvements would directly enhance the living conditions of Nigerians across all geopolitical zones, including the often-neglected northern region.
Abagun further elaborated on the proposed changes to Value Added Tax (VAT) administration, describing them as a progressive shift towards fairness in revenue sharing.
“After due scrutiny and consideration, we agree that the proposed changes to VAT administration are designed to align revenue sharing more closely with consumption patterns. This approach ensures that states receive funding based on actual economic activity rather than outdated historical allocations,” he explained.
The endorsement from Afenifere is seen as a significant boost to the reform agenda, given the organization’s influence and its consistent advocacy for policies that promote economic justice and federal equity. The group’s support underscores the growing consensus among stakeholders on the need to recalibrate Nigeria’s tax system to foster development and reduce regional disparities.
As the bills progress through legislative processes, Afenifere has called on other socio-political groups, State Governments and economic stakeholders to lend their support to these transformative reforms, which promise a brighter economic future for Nigeria.
