Exclusive Interview with Professor Nick Chika Ezeh,
Professor of Political Economics & International Relations
Prof. Nick C. Ezeh
Good day Prof., thank you for taking the time to speak with us. Let’s start with an overview. Why do you believe President Bola Ahmed Tinubu’s tax reform bills are so critical at this point in Nigeria’s history?
Thank you for having me. These reforms are crucial because Nigeria needs to strengthen its fiscal foundation and ensure sustainable economic growth. The tax reform bills currently under review by the National Assembly represent a pivotal step toward transforming the nation’s economy. They are not just an overhaul of outdated tax policies but a deliberate effort to build a resilient and equitable tax system that fosters development and accountability.
Can you break down the proposed reforms for us? What exactly do these bills aim to achieve?
Of course. There are four key bills—the Nigeria Tax Bill 2024, the Nigeria Tax Administration Bill, the Nigeria Revenue Service Establishment Bill, and the Joint Revenue Board Establishment Bill. Together, they aim to consolidate and simplify Nigeria’s tax structure by centralizing tax collection under a unified Nigeria Revenue Service. This eliminates inefficiencies and overlaps in revenue collection. The bills also repeal 11 outdated tax laws and amend 13 others to align the tax system with modern economic realities.
President Tinubu
What innovative measures do these reforms propose to drive economic growth?
One of the most innovative features is the proposed development levy on company profits to support education and infrastructure. Additionally, the reforms prioritize equity by protecting small businesses and vulnerable populations while ensuring that multinational corporations and high-income earners contribute their fair share. This approach not only promotes fairness but also aligns with global trends in progressive taxation.
How do you think these reforms will impact public services?
The expected increase in government revenue from an efficient tax system will enable investments in vital sectors such as healthcare, education, and transportation. For example, the proposed education levy will directly fund student loan programs and tertiary education, addressing long-standing challenges in access to quality education.
Nigerians on a daily struggle will benefit more from the Tax Reform Bills
Some Nigerians might be concerned about the potential burden of increased taxation. How are these bills addressing such fears?
That’s a valid concern. However, these reforms have been carefully designed to minimize the burden on ordinary citizens. Measures like exemptions for small businesses and incentives for compliance reflect the administration’s commitment to fairness. The focus is on creating a system where everyone contributes according to their capacity.
How do you envision these reforms affecting investor confidence?
A simplified and predictable tax regime is a key factor in attracting both local and foreign investors. By creating a more stable economic environment, these reforms will stimulate job creation, innovation, and industrial growth.
Investors will pay more in the Tax Reform
In what ways do you believe these reforms will help Nigeria achieve economic resilience?
By diversifying revenue sources beyond oil, these reforms will shield Nigeria from global market volatility. A robust tax system ensures that the country can generate consistent revenue, even in the face of external shocks.
Finally, what message do you have for Nigerians regarding these tax reform bills?
As stakeholders in Nigeria’s future, it’s imperative for all Nigerians—legislators, business leaders, and citizens—to rally behind these tax reforms. Supporting these bills means addressing current economic challenges and laying the groundwork for a prosperous and equitable Nigeria. President Tinubu’s vision is clear: a Nigeria where resources are managed prudently, opportunities are abundant, and growth is inclusive.
It’s been my pleasure. Thank you for the opportunity to discuss this important topic.
NGI 
SKJ