The problems of lack political will to chart a new tax regime had led to series of tax evasion precluding efforts towards a desirable and virile development of Nigeria.
Therefore, to conform with the Renewed Hope Agenda of President Bola Ahmed Tinubu, a tax reform committee was set up which included astute administrators, planners and technocrats of high caliber including the Director General, National Institute for Legislative and Democratic Studies NILDS, Professor Abubakar Sulaiman Olarenwaju.
Armed with versed knowledge in nation’s building and National planning, having served a decade away as Minister of National Planning, his appointment on the committee for tax reforms was not a
mere coincidence, but desiring.
As part of his wisdom in administration and policy design, the NILDS helmsman muted an expanded maiden tax reform retreat between the legislative arm of government and the Executive held on October 19 in Uyo , the Akwa Ibom state capital, to chart a deliberate and policy framework towards addressing permanently, the issue of tax evasion, pilfering and appropriate tax regime.
Since tax and taxation had been the bane of the sustenance of the modern global economy world over, Nigeria cannot afford to be left behind in the digital era of modest collection, remittance of taxes that will attract modest development.
The convergence of the lawmakers was no mean event , since they are expected to make laws that would legitimise a new tax revolution that will not affect positively government policies and programs , but it’s financial obligations to Nigerians.
With huge burden and protracted economic situations around the globe , with Nigeria not an exception, the parley between the Senators and policy makers and implementers in the country, was the best thing to have started the new administration of Renewed Hope Agenda of President Bola Ahmed Tinubu.
The capital and recurrent expenditure funds been allocated on yearly basis was grossly inadequate, government and managers both in the private and public sector relied on internally generated revenues IGR mopped up through tax payment and obligations was the other of the day.
In that vein, the Tax Reforms and maiden retreat will guarantee many experts ranging from the chief tax collectors, the FIRS, the new management of Tax Reforms and Physical Policy, Ministry of Finance and other stakeholders would have rob minds with the lawmakers on the possible ways of synergy, that will open up tax collection as another avenue for government at all levels to meeting up it’s mounting obligations with protracted unabated economic recession.
Deploying the administrative experience and exposure as Chief planner of the country many years ago , combined with the current status at the legislative arm of government, no doubt , the decision of NILDS helmsman to bring on board the policy makers and lawmakers on a round table, was a good start that will bring on board the policy framework expected from the high and low, in the area of tax reform, collection and remittance.
For NILDS, its role under a more focused leadership of Professor Abubakar Sulaiman Olarenwaju, no doubt will take the country to the promise land in the shortest possible time.
Abubakar Yusuf Writes from Abuja on yus.abubakar3@gmail.com.
