The Presidency has addressed criticisms regarding the perceived haste in advancing the Tax Reform Bills, highlighting the extensive groundwork that preceded their introduction.

The Senior Special Assistant to the President on Media and Publicity, Temitope Ajayi, clarified via X on Monday that the reforms stem from 14 months of rigorous work by over 80 experts from various parts of the country.

“It is very disingenuous to say that the Tax Reform Bills, the product of 14 months of extensive work by over 80 professionals drawn from every part of the country, are being rushed through the National Assembly.

“The suggestion that it took the PIB over 20 years to get through the parliament is backward thinking. Nigeria lost too much for the failure to pass the PIB on time in terms of revenue, investments, and jobs in the oil & gas sector,” Ajayi stated.

He also shared a timeline detailing the meticulous process behind the development of the tax reforms, underscoring the urgency of their passage to stabilize Nigeria’s economy amidst dwindling oil revenues and increasing debt.