Senator Seriake Dickson (PDP, Bayelsa West), the Chairman of the Senate Committee on Ecology and Climate Change, emphasized the legislature’s commitment to passing the tax reform bills, asserting that “heaven won’t fall.”
During a session in Abuja on Monday, he remarked, “The Petroleum Industry Act (PIA) was enacted despite our request for a 10% allocation, as initially proposed by former President Yar’adua. Instead, it was reduced to 3%. Yet, the world continued as usual. These tax reform bills will also be approved without any catastrophic consequences.”
Last week, the Senate advanced the bills to a second reading, while the House of Representatives has yet to engage in discussions.
Dickson urged critics of the bills to participate in the upcoming public hearing with substantiated evidence, stating, “The Senate has moved the bills to the second reading stage. A public hearing will be conducted, and stakeholders should prepare to present their viewpoints. The tax bill is a proposed law like any other and must undergo the standard legislative process.”
On the issue of tax inequities, Dickson expressed, “Currently, taxes collected from Bayelsa State are directed to Lagos State, and I oppose this practice. When goods or services are consumed from any state, the corresponding taxes should be calculated and remitted to that state.”
He elaborated on his support for the reform, noting, “This is a crucial moment to reassess the tax laws and rectify existing discrepancies, which is why I advocate for this change. I understand that some states fear they may receive less under the new distribution formula. It is essential for them to raise these concerns and provide relevant data. My decisions are based on facts, not emotions, and are made in the interest of the nation.”
On October 3, 2024, President Tinubu submitted four tax reform bills to the National Assembly, as announced by Senate President Godswill Akpabio and House Speaker Tajuddeen Abbas during separate sessions.
Tinubu indicated that the purpose of these bills is to strengthen Nigeria’s fiscal institutions and align with the government’s developmental goals.
