Business
Northern Youth Forum backs FG’s proposed Tax Bills for Nigeria
The Progressive Northern Youth Forum (PNYF) has backed the Federal Government’s Tax Reform Bill, stating that it can “turn the fortune of the country” around.
PNYF General Secretary Abdulkadir Bala disclosed this in a statement on November 2, 2024, after its National Executive Committee’s deliberation on President Bola Ahmed Tinubu‘s rejection of the National Economic Council’s (NEC) recommendation to withdraw the tax reform bills.
PNYF expressed support for the President’s decision to disregard the stance of NEC members, particularly the Northern Governors’ Forum, stating that the decision by NEC and the Northern Governors’ Forum “does not represent the views of the people in the region.”
According to the group, the governors have allegedly demonstrated a consistent lack of initiative to lead the North, instead relying on federal allocations and squandering the resources of the people, rather than proposing similar bills to enhance their states’ internally generated revenues.
“What is the Northern Governors’ Forum afraid of? Clearly, they are afraid of taking responsibility. They want to continue being financially sustained by the Federal Government without making efforts to develop their own revenue-generating initiatives. There is no evidence to show that the current Northern governors have effectively utilized all the allocations they have received from President Tinubu’s federal government.
“The governors should stop opposing people-oriented bills brought forth by the federal government and focus on fulfilling their responsibilities to the public. Otherwise, the people may feel compelled to demand their impeachment or resignation,” the statement partly reads.
The forum commended President Tinubu for remaining steadfast in his support of the tax reform bills, despite attempts to dissuade him, adding that residents in the North fully support the tax reform bills as they aim to streamline Nigeria’s tax administration processes and completely overhaul the nation’s tax operations to align with global best practices.
ThePressNG previously reported that President Bola Tinubu had rejected the National Economic Council’s (NEC) proposal to withdraw the controversial tax reform bill, insisting that the council follow the “legislative process.”
“President Tinubu commends the National Economic Council members, especially Vice President Kashim Shettima and the 36 State Governors, for their advice.
“He believes that the legislative process, which has already begun, provides an opportunity for inputs and necessary changes without withdrawing the bills from the National Assembly.”
Governors of the 19 Northern states, along with traditional rulers and stakeholders from the region, expressed opposition to the bill, particularly concerning the draft on the derivation-based model for Value Added Tax (VAT) distribution among the country’s federating units.
- Business1 week ago
Nigerian court unfreezes N89 million in bank accounts previously indicted for illegal crypto dealings
- Business1 week ago
FCCPC probes GTBank, MTN and Air Peace over alleged customer rights violations
- Business6 days ago
Elon Musk asks U.S. court to block OpenAI’s transition to for-profit
- News1 week ago
Eight Terrorist Commanders Surrender in Northcentral — DHQ
- News6 days ago
Target Bigger Fish, Not Yahoo Boys — Justice Shuaibu to Anti-Graft Agencies
- News6 days ago
NAFDAC Dismantles Fake Alcohol Production Site in Lagos, Seizes N30M
- News1 week ago
Osun Funds: APC Alleges Mismanagement, CSOs Disagree
- Business1 week ago
Uganda confirms Central Bank hack, says amount stolen not up to $17 million