Reps to enact laws on reduction of Nigeria’s revenue agencies

The Deputy Speaker of the House of Representatives, Benjamin Kalu, said on Wednesday the parliament would enact laws to streamline the multitude of revenue agencies in the country.

Kalu, who disclosed this at the World Bank Fiscal Governance and Institutions Project (FGIP) Focus Group Discussion held at the Federal Ministry of Finance, Abuja, also revealed that the lawmakers would enact a law that would effectively eliminate multiple taxations in Nigeria.

According to him, the House was in the process of streamlining the multitude of revenue-collecting agencies in operation.

He said: “The initiative was aimed at improving coordination and reducing duplicity in tax administration to make the system more efficient, transparent and accountable.”

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The deputy speaker argued that President Bola Tinubu had embarked on a path of fiscal reform that directly addressed some of the most pressing issues in the tax system and overall fiscal policy.

He said the reform was a testament to the dedication of the Federal Government towards achieving a more robust and equitable economic landscape.

Kalu added: “One of the paramount challenges we are currently addressing as a government, is the issue of tax multiplicity, a labyrinthine web of taxes that has placed undue burdens on both individuals and businesses.

“Simplifying and rationalising this system is imperative to alleviate the compliance burden and to foster an environment conducive to economic growth.

“In parallel, we have recognised the necessity of modernising revenue collection through automation.”

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