RMAFC Supports Tinubu’s Tax Reform, Dismisses Opposition Claims

• The Revenue Mobilisation Allocation and Fiscal Commission clarified its support for the tax reform bills, denying claims of opposition to the legislation
• RMAFC Chairman Mohammed Bello Shehu emphasized that the proposed reforms aim to enhance Nigeria’s revenue-to-GDP ratio and fiscal performance

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has clarified its stance on the four tax reform bills before the National Assembly, denying claims that it opposes the legislation.

RMAFC Chairman, Mohammed Bello Shehu, addressed the issue during a press conference in Abuja.

He explained that some media outlets had misinterpreted the commission’s position paper on the reforms, creating a false impression of opposition.

Shehu stated, “The bill has sparked debates, especially on Value Added Tax (VAT) allocation and derivation. However, our memorandum emphasizes global best practices and aligns fully with President Tinubu’s vision for a sustainable and equitable fiscal framework.”

He added that the proposed reforms aim to unlock untapped revenue sources, improve Nigeria’s revenue-to-GDP ratio, and strengthen fiscal performance.

Shehu urged the public to rely on official statements to avoid misinformation, which could hinder national efforts to support the president’s goals.

Fiscal Responsibility Commission Endorses Tax Reforms

The Fiscal Responsibility Commission (FRC) has strongly supported the tax reform bills, emphasizing their potential to enhance fiscal governance and economic growth.

The bills, developed by the Presidential Fiscal Policy and Tax Reforms Committee, are designed to transform Nigeria’s revenue framework.

FRC Chairman Victor Muruako spoke about the reforms during an event hosted by the Capital Market Academics of Nigeria (CMAN) on December 9, 2024.

He noted that an in-depth review of the bills revealed no elements favouring specific regions. Instead, the reforms ensure equitable resource distribution among federating states.

“These reforms are structured to benefit all Nigerians, especially low-income earners and Micro, Small, and Medium Businesses (MSMBs),” Muruako said.

Both commissions have emphasized their commitment to supporting policies that promote equity, transparency, and economic stability across Nigeria.