The Member representing Aba North/South Federal Constituency on the platform of the All Progressives Grand Alliance (APGA), Hon. Alex Mascot Ikwechegh, has shared his thoughts on the Tax Reform Bills currently under review.
The lawmaker emphasized that the bills, if passed, will encourage governors to think creatively and diversify their revenue sources, potentially reshaping Nigeria’s fiscal landscape.
Speaking during an interview with DAILY POST, Ikwechegh noted that while the bills have sparked some concern, particularly regarding certain unclear aspects, they hold significant promise.
According to Ikwechegh, the bills, which are still under review by the House of Representatives, have prompted extensive consultations among legislators, state governors, tax experts, and other stakeholders.
He revealed that some members of the Southeast caucus have raised issues about certain “grey areas” in the bills. However, he remained optimistic, noting that these concerns would be addressed.
Ikwechegh said: “I will be very frank with you. The tax reform bills, there are a few grey areas that members from the south east are slightly worried about. You know this is a very technical bill.
“The bills were brought to the House of Representatives early weeks ago and a lot of consultations area still ongoing. A lot of people are still trying to dissect the content of the bills to understand the clinical tendencies that are enshrined into the bills.
“So we all know it’s a technical bill and we are trying to understand it. The Deputy Speaker has reached out to us; we have, as a caucus, met.
“Governors of Imo and Ebonyi have also reached out to us. We have reached out to our scholars, our tax people to peruse the bill. It’s not a bad bill.
“There are a lot of benefits that come with the bill. What you consume you get – your value added taxes. It’s a good one. Some of us in the south east consume a lot of things.”
Ikwechegh further stressed that while the bills are comprehensive, they present significant advantages for all regions of the country.
He dismissed fears of regional bias, stating, “There’s no part of the country that is cheated. It’s just good that we take time to study the bill and understand it. You can agree with me that the bill is quite voluminous – we have four bills all in one.
“I believe that by next week, the President will come to the National Assembly to present the budget.
“After the budget is presented, we will take time to go for holidays, where we will engage in robust consultations and proper sensitization about the bill. This is a bill that will literally alter the way everything is at the moment in Nigeria.
“We know a few things had happened in the past – the subsidy removal, the floating of the currency, the increment of the electricity tariff – so, people are slightly ambivalent about rushing to pass this bill.
“We want to truly understand the effect that will come with the passage. After all these have been taken into cognizance, I am sure the bill will be passed. I assure you that this bill is revolutionary, except from few grey areas, which must be attended to.
“If this bill is passed, it will help the governors think outside the box, not just to rely on the allocation. It’s simple – what you earn, you keep.”