The Presidency says the tax reform bills didn’t recommend the scrapping of some agencies including the National Agency for Science and Engineering Infrastructure (NASENI), the Tertiary Education Trust Fund (TETFund), and the National Information Technology Development Agency (NITDA).

The Special Adviser to the President on Information and Strategy, Bayo Onanuga, made this known in a statement on Monday, December 2, 2024.

This followed the criticism that has since been trailing the tax reform bills forwarded to the National Assembly by President Bola Tinubu.

Onanuga stated that the tax reform bills will not make Lagos or Rivers States more affluent and other parts of the country poorer.

The presidential spokesman stressed that the bills will not destroy the economy of any section of the country, saying: “Instead, they aim to enhance the quality of life for Nigerians, especially the disadvantaged, who are trying to make a living.

“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.

“Government agencies, such as NASENI, TETFUND, and NITDA, are funded through budgetary provisions with company income tax and other taxes paid by the same businesses that are being overburdened with the special taxes.”

FIRS to NASENI, TETFund: Nothing in tax bills’ll reduce your funding

Onanuga noted that one reason Tinubu embarked on the tax and fiscal policy reforms was the need to streamline tax administration in Nigeria and make the operating environment conducive for businesses in the country.

He added: “It is a misrepresentation of facts to conclude that changing an agency’s funding source amounts to scrapping it. None of the countries leading globally in education, science, engineering, or information technology have similar earmarked taxes.

“The government imposes major taxes, be it income tax, consumption tax, or other taxes, to channel resources to its areas of priority at the time. Imposing a separate tax to fund an agency is an aberration that has yet to yield results despite the huge burden on businesses. The tax bill seeks to address this problem.

“Relevant stakeholders and public analysts owe it a duty to properly educate themselves about the bills’ contents and avoid misleading the public for any reason. We may be entitled to our opinions, but such views must be informed and based on facts, not emotions targeted at inflaming passions.

“In a period like this, when our people across the country look up to leaders for guidance and direction on matters of public importance, such as the Tax Reform Bills, leaders should be more measured in their public utterances to avoid heating the polity and polarising the country unduly.

“President Tinubu welcomes the public interest these bills have generated. He encourages leaders across the country, including governors, traditional rulers, civil society activists, students, trade associations, professional associations, and the general public, to take advantage of the public hearings that the National Assembly will organise to present their views on how best to reform our taxes and fiscal regime.

“What is never in doubt is the imperative of changing the existing tax laws and administration that have become obsolete and unhelpful in achieving the growth and development we desire for our country.”

The Star