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NESG finally reacts to controversial tax reform bills

NESG finally reacts to – NESG finally reacts to…
NESG finally reacts to – The Nigeria Economic Summit…
The Nigeria Economic Summit Group (NESG) has endorsed the controversial Tax Reform Bills, citing their potential to drive equity and bolster the nation’s economy.
Speaking at an interactive media session in Abuja, NESG’s CEO, Dr Tayo Aduloju, emphasised the organisation’s active role in shaping the reforms through data-driven analysis and policy recommendations.
Dr Aduloju underscored NESG’s contributions as a member of the Presidential Committee on Fiscal and Tax Reforms.
“Our work is guided by the principle to ‘tax the harvest, not the seed.’ Taxing the working poor solves no problems; it exacerbates them,” he said.
The bills aim to identify and exempt economically vulnerable individuals and businesses, fostering a more equitable tax system.
Aduloju further highlighted the reforms’ focus on socio-economic adjustments, noting, “For the first time, we have bills that align taxation with social security needs and economic realities, exempting the most vulnerable while shifting the burden to high earners and highly profitable enterprises.”
He called this approach a crucial step in transitioning Nigeria’s economy into a more sustainable and taxable structure.

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Joseph Ogebe, NESG’s Head of Research and Development, provided insights into the group’s efforts to quantify the reforms’ impact.
“We’ve analysed household data from the 2018-2019 survey and conducted simulations based on VAT payment patterns,” he explained.
While preliminary findings suggest significant gains at sub-national levels, NESG plans to update its analytics with the 2022-2023 Nigeria Living Standard Survey data early next year.
The NESG is also taking steps to educate Nigerians about the reforms.
Ogebe explained that public understanding is critical, as the reforms are designed to enhance economic fairness while bolstering revenues for development.
With the Tax Reform Bills promising a restructured economic framework, NESG remains a vocal advocate, championing policies that prioritise equity and socio-economic stability.
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DID YOU KNOW? New Pope Leo XIV visited Nigeria in 2016

As Catholics worldwide welcome Pope Leo XIV, a lesser-known detail about the new pontiff has emerged: his visit to Nigeria nearly a decade ago.
Then known as Bishop Robert Prevost, the American-born clergyman travelled to Abuja in 2016 as part of his work with the Order of St. Augustine.
The visit marked a historic milestone for the religious order.
“For the first time, General Chapter of the Order of St. Augustine on the African continent — Abuja, Nigeria,” read a translated caption from a 2016 photo posted on Pope Leo’s X (formerly Twitter) account.
READ ALSO: Robert Prevost: 10 things to know about new Pope Leo XIV
The image shows him alongside Catholic leaders, both foreign and Nigerian, dressed in traditional clerical attire.
At the time of his visit, Leo XIV was serving as Bishop of Chiclayo, Peru.
Before that, he led the Augustinian Province in Chicago and served two terms as Prior General of the global order, known for its emphasis on community life, spiritual reflection, and service.
His connection to Nigeria stands out, especially considering the country’s deep Catholic roots and the long gap since a papal visit.
The last pope to visit Nigeria was John Paul II in 1998.

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READ ALSO: Why Popes are buried in 3 coffins with bag of coins—and why Pope Francis ended it
President Bola Tinubu congratulated Pope Leo XIV on his election, saying the pontiff’s “message of faith and hope resonates across the globe.”
He also expressed joy on behalf of Nigerian Catholics, who now find a deeper link to the Vatican through the pope’s past presence in Abuja.
Pope Leo succeeds Pope Francis, who visited several African nations but never Nigeria during his papacy.
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