By: George Ozalla
Dr Zacch Adedeji’s outstanding performance at the National Assembly public hearing on the tax reform bill has earned him widespread praise and admiration. His exceptional leadership, expertise, and passion for driving meaningful change in the revenue sector have left a lasting impression on all in attendance.
As noted by Newscount Crew, “Many may not be swayed by anything else other than your good heart and what you have got upstairs.” This sentiment is a testament to Zacch’s ability to distill complex concepts into accessible, actionable insights, making him a respected voice in his field.
The tax reform bills, introduced by President Bola Ahmed Tinubu in October 2024, aim to create a more efficient, transparent, and equal tax system. The proposed bills include the Nigeria Tax Administration Bill, Nigeria Revenue Service Bill, Joint Tax Board Bill, and Nigeria Tax Bill.
The public hearing on these bills has brought together different stakeholders, with some lending their support and others opposing certain aspects, such as the proposed increase in VAT from 7.5% to 15% by 2030 etc.
However, the reforms are expected to enhance the economy, create a fairer tax system, and improve livelihoods.
As Dr. Zacch Adedeji, Chairman of the Federal Inland Revenue Service (FIRS), continues to drive positive change, his dedication to excellence is a beacon of inspiration. The passage of these bills is expected to have a significant impact on Nigeria’s economic growth and financial stability.
If Nigerians genuinely seek economic growth and financial stability, we must recognize that taxation is not a choice. It is a necessity. A dawn of new era has begun with Dr. Zacch Adedeji becoming the Chairman, Federal Inland Revenue Service (FIRS), ushering in pragmatic leadership style, in-depth knowledge, vision, transparency, and efficiency.
For many years, Nigeria’s tax structure has been riddled with multiple loopholes, inefficiency, and an overdependence on oil revenue. The proposed bills seek to simplify tax collection, reduce tax evasion, and ensure revenue is directed toward national development.
These initiatives will improve the ease of doing business, encourage investment, and establish a more equitable system in which big companies pay their fair share. The Trade Union Congress and others oppose raising VAT from 7.5% to 15% by 2030, entertaining fear it will worsen the cost of living for citizens. Some genuine concerns already raised should be looked into where necessary.
The tax reforms will help government agencies work together and fix long-standing problems in revenue collection. The Senate and House of Representatives have promised to thoroughly review the bill. Nigerians have much to gain from its passage. This reform will enhance the economy, create a fairer tax system, and better livelihoods. The gains of passing the bills may outweigh the pains.
