Home News Consult more on Tax Reform Bills, NES president, UNDP chief urge Tinubu

Consult more on Tax Reform Bills, NES president, UNDP chief urge Tinubu

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The United Nations Development Program (UNDP) Resident Representative in Zimbabwe, Dr Ayodele Odusola, and the Nigerian Economic Society (NES) President, Prof. Adeola Adenikinju, have called on President Bola Tinubu to be more consultative and present the benefits of the tax reform bills to Nigerians so they can see value in the bills and secure the buy-in of Nigerians.

Adenikinju and Odusola made the call while speaking at the first Faculty Distinguished Personality Lecture of the Faculty of Economic and Management Sciences of the University of Ibadan, with the theme “Future of Development Finance in Africa” and the launch of the book titled ‘Reminiscences’.
The book, which chronicles the Economics Department of UI, was reviewed by Prof. Olanrewaju Olaniyan of the department and current Vice Chancellor of Emmanuel Alayande University of Education, Oyo Town.
The VC said the book showcased the achievements and milestones of the department, while Adenikinju said the book tells the story of UI Economics and the efforts of past legends and icons of the department.
Speaking on the raging issue of the tax reform bills, Odusola and Adenikinju urged Tinubu to consult stakeholders widely for them to embrace the reform.
Odusola said: “When it comes to the issue of tax reform bills, the president has to be very consultative. He should consult people to see the value in the tax bills. If you don’t consult people and make them see value in them, even if it is the best, they will not take them seriously.
“In this regard, I think the president should be more consultative. Let the bills be debated across all six geopolitical zones of the country, and let the issue be raised and show people how they are going to benefit from raising taxes. If the government is able to show the values this reform is bringing to the states, all the local governments, and communities, I am sure people will listen and contribute to its success.”
He also said Africa must tackle corruption and illicit financial flows.
On his part, Adenikinju said tax reform was key to getting the right revenue. He, however, called for more consultations and transparency in the reform and tax administration.
While welcoming guests and alumni to the lecture, the Dean of the Faculty of Economic and Management Sciences, Professor Abiodun Folawewo, stated that adequate financial resources are needed for the African continent’s aspiration of building the “Africa We Want” to be possible.
Folawewo said: “It is important to note that the future of development finance in Africa requires a paradigm shift from the existing practice by African leaders of ‘kneeling with cap in hand, begging and looking up to financial assistance from the developed world.”
In his opening remarks, the Vice Chancellor of the University of Ibadan, Prof. Kayode Adebowale, who was represented by DVC (Academic), Prof. Aderonke Bayeroju, noted that “one of the basic problems confronting many African countries is how to mobilise enough resources to address the development gaps in the face of fiscal constraints,” adding that the topic of the lecture is
“relevant to the development challenges being faced by African countries, especially Nigeria.”The chairman on the occasion, Dr Segun Aina, said: “Africa has all it takes to be able to take care of its development needs, but we need leaders who understand the concept of development and how to harness development from the resources that we have both the human resources. The leaders can make the resources much more productive so that the continent can produce a lot more.
“We do not have any business being in the situation we are now in Africa. All the countries in Africa have huge debts, debt overhangs, yet we have not seen the outcome of those debts in terms of the development of the people. A lot of countries and their people are suffering. The huge number of poor people in the world are from Africa, yet Africa has the youngest population.”

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