Senator Yemi Adaramodu, Chairman of the Senate Committee on Media and Publicity, has defended President Bola Tinubu’s tax reform bills, asserting that critics are speaking out without fully understanding the proposal. Adaramodu emphasized that many criticisms are based on the misconception that taxes are always burdensome. He clarified that the bill is designed to exclude low-income earners from paying taxes and to eliminate double or multiple taxation, which he believes is a step forward, not a setback.
The senator further assured that the National Assembly would hold an open debate on the bill, allowing Nigerians to contribute their views during public hearings. He stressed that the final decision would be made after considering these contributions. Adaramodu also highlighted that the bill includes a consumption-based Value Added Tax (VAT), which is intended to be fair, with higher consumption areas generating more VAT revenue.
Adaramodu concluded by stating that the tax reform is crafted to encourage productivity and equitable economic growth. He encouraged Nigerians to actively participate in the upcoming public hearings to ensure their voices are heard and incorporated into the final version of the tax reform bill.