GistReel

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has firmly denied claims that it opposes President Bola Ahmed Tinubu’s proposed Tax Reform Bills currently under review by the National Assembly.

Earlier reports had alleged that the RMAFC had “vehemently rejected” the contentious tax reform proposals.

However, addressing these claims during a press conference in Abuja on Tuesday, RMAFC Chairman Dr. Mohammed Shehu labeled the allegations as “false” and “malicious.”

He clarified that the commission fully supports the bills and has actively participated in the reform process.

The tax reform initiative has sparked widespread debate in recent weeks, particularly regarding the allocation and derivation of Value Added Tax (VAT).

Dr. Shehu emphasized that the RMAFC has submitted a detailed memorandum outlining its position, which aligns with international best practices and President Tinubu’s vision for a more equitable and sustainable fiscal framework for Nigeria.

“We commend President Tinubu’s unwavering commitment to repositioning Nigeria’s revenue base and his bold steps toward addressing the nation’s fiscal challenges,” Shehu stated.

He described the proposed tax reforms as a pivotal step in harnessing untapped revenue streams, improving Nigeria’s revenue-to-GDP ratio, and strengthening the country’s fiscal performance globally.

Expressing disappointment over the spread of inaccurate information, Dr. Shehu urged the public to disregard such reports and called on the media to uphold journalistic integrity by disseminating only verified information to support the nation’s fiscal reform agenda.

As a key stakeholder in Nigeria’s fiscal policy, Dr. Shehu reaffirmed the RMAFC’s role in providing expert financial guidance. He also highlighted the commission’s collaboration with the National Assembly to ensure the proposed bills address critical issues like tax evasion and promote fiscal equity effectively.

Shehu said, “Once again, we reiterate our total support for the tax reform, which aligns with our goal of helping the President in his ongoing fiscal reforms. We acknowledge our responsibility to provide professional guidance whenever necessary and pledge to continue working tirelessly to support the President’s vision for a more prosperous Nigeria.

“It is important to recognize that the RMAFC is a critical stakeholder in Nigeria’s fiscal framework. Our mandate is to ensure an equitable revenue-sharing formula among the three tiers of government. We take this responsibility seriously and are committed to providing expert advice to support the government’s fiscal policy objectives.

“In this regard, we have been working closely with the National Assembly to provide technical input on the proposed tax reform bills. Our goal is to ensure that the legislation is robust, effective, and aligns with global best practices.”

While recognising the reform’s challenges, including its potential impact on businesses and individuals, Shehu reassured that the RMAFC is committed to engaging with stakeholders constructively to resolve these concerns.

“We believe that the proposed tax reform bills have the potential to transform Nigeria’s fiscal landscape. The bills aim to promote fiscal equity, reduce tax evasion, and increase revenue generation. These objectives are in line with the RMAFC’s mandate, and we are committed to supporting their implementation,” he added.

Shehu highlighted the need for Nigerians to remain dedicated to President Tinubu’s vision of a prosperous Nigeria and to work collaboratively to guarantee the effective implementation of the tax reforms.

He also called on the media to prioritize truth, accuracy, and fairness in their reporting, warning against the risks associated with spreading misinformation.