A leading accounting firm has identified 31 critical flaws in Nigeria's newly altered tax laws, prompting calls to halt their implementation. Opposition figure Peter Obi has echoed this demand, highlighting the need for public consultation amid economic hardships. The opinion piece argues that without trust and clear benefits, the reforms risk alienating citizens.
Nigeria's tax landscape has undergone significant changes, but these reforms are facing immediate scrutiny. According to a detailed analysis by KPMG, a globally respected firm, the new laws contain 31 major issues, including drafting errors, policy inconsistencies, and administrative shortcomings. This assessment came to light only after private discussions between the National Revenue Service and KPMG, raising questions about transparency in the process.
Peter Obi, former governor of Anambra State, has publicly urged a pause in the implementation of these tax laws. He cited the 31 flaws identified by KPMG, emphasizing that such fundamental changes require broad consultation with businesses, workers, and civil society. Obi pointed out the absence of public discussions, leaving citizens unaware of both the new obligations and any promised benefits.
The broader context underscores the challenges. Following the removal of fuel subsidies, Nigerians are contending with rising food prices, higher transport costs, reduced purchasing power, and increasing poverty. Critics argue that taxation should embody a social contract, delivering improvements in healthcare, education, jobs, infrastructure, and social safety nets. Without these visible returns, the reforms are seen not as progress but as an added burden on struggling citizens.
The opinion highlights that effective tax policies worldwide involve extensive stakeholder engagement and clear communication of benefits. In Nigeria, the rushed rollout without such steps erodes trust. As Obi and others contend, pausing the laws is essential to foster consensus, ensure clarity, and build a system that promotes unity and prosperity.
This development signals a critical moment for governance, where listening to expert warnings and public concerns could pave the way for more equitable reforms.
