The Presidency has debunked claims that the proposed tax reform bills before the National Assembly recommend the scrapping of the National Agency for Science and Engineering Infrastructure, NASENI, Tertiary Education Trust Fund, TETFUND, and National Information Technology Development Agency, NITDA.
In a statement issued by Bayo Onanuga, Special Adviser to the President on Information and Strategy, on Monday, the Presidency described such claims as deliberate misinformation aimed at misleading Nigerians.
It also emphasised that no provision in the tax reform bills would impoverish any region of the country.
“Contrary to the lies being peddled, the bills do not suggest that NASENI, TETFUND, and NITDA will cease to exist in 2029 after the passage of the bills,” the statement read.
Onanuga clarified that these agencies would continue to receive funding through budgetary allocations, not special taxes imposed on businesses.
President Bola Tinubu’s administration initiated the Tax and Fiscal Policy Reforms to simplify tax administration, reduce the burden on businesses, and create a competitive economic environment. The reforms propose consolidating some earmarked taxes into a single levy, which will be shared among relevant agencies in a phased manner until 2030.
The statement noted that the reforms aim to eliminate the multiple taxation system that has discouraged investment and led many businesses to relocate from Nigeria.
“We cannot continue on this path or wait for 20 years if this country is to deliver the prosperity we need for our people,” it added.
The Presidency urged stakeholders, including governors, traditional rulers, civil society groups, and professional associations, to engage constructively with the bills during the forthcoming public hearings at the National Assembly.
President Tinubu reaffirmed his commitment to modernising Nigeria’s tax laws to align with international best practices, ensuring growth and development for the country.
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