The leading socio-cultural organization representing the Igbo people, Ohanaeze Ndigbo, has given its full support to President Bola Tinubu’s proposed tax reform bills, hailing them as a significant step toward improving Nigeria’s economic landscape.
In a statement released on Sunday, the group emphasized the potential of the reforms to benefit Small and Medium Enterprises and workers, while addressing the persistent problem of double taxation.
Ohanaeze described the reforms as crucial for fostering equitable economic growth in the country.
The organization highlighted that the proposed changes would revitalize SMEs and enhance the economic wellbeing of Nigerian workers, according to Politics Nigeria.
It noted that by eliminating the burden of double taxation, particularly from state governors, the reforms would create a more level playing field for businesses and attract both local and international investments.
Ohanaeze further pointed out that the Igbo community, known for its entrepreneurial drive, would greatly benefit from the proposed reforms, which are expected to stimulate private sector growth and establish a more balanced regulatory environment.
The group also called on Southern Federal lawmakers to unite across party lines to ensure the swift passage of the reforms in the National Assembly.
It stressed the importance of collaboration among Southern legislators to overcome any political divisions and support the tax reform bills.
Ohanaeze expressed concern over opposition to the reforms from some Northern governors and lawmakers, suggesting that their resistance was motivated by a desire to maintain the current VAT derivation principles, which they argue favor certain interests.
The group warned that if the Northern political elites succeed in blocking the reforms, it could set a dangerous precedent and hinder future reform efforts.
Ohanaeze reiterated its support for the Tinubu administration, recalling its earlier decision to abstain from nationwide protests as a sign of cooperation.
The organization emphasized that a prosperous and fair Nigeria is within reach, but it requires a collective commitment to transparency, fairness, and sustainable economic growth.
“These tax reforms represent a transformative opportunity for the rejuvenation of SMEs and the enhancement of Nigerian workers’ fortunes.
“By eliminating the scourge of double taxation imposed by unscrupulous state governors, these reforms will create an equitable business climate that significantly boosts both local and foreign investments,” the group stated.
It continued, “It is imperative that our Southern legislators close ranks, transcending partisan divides, to ensure that the Tax Reforms Bills navigate both chambers of the National Assembly successfully.
“If the Northern political elites succeed in thwarting President Tinubu’s initiatives, it could set a dangerous precedent, fostering resistance against meaningful reform.
” The promise of a prosperous and just Nigeria is within our reach, but it demands our collective resolve to advocate for transparency, equity, and sustainable economic growth.”