Chairman of the Presidential Tax Reform Committee, Taiwo Oyedele, has dismissed allegations that the proposed tax reform bills include an inheritance tax. According to Oyedele, the legislation merely clarifies the taxation of family income—specifically income derived from property rent—a practice long established in Nigeria.
At a public hearing on the tax reform bills yesterday, Oyedele explained that sections misinterpreted as imposing an inheritance tax actually extend existing provisions already found in the Personal Income Tax Act. This clarification comes amid concerns by some stakeholders that the new bills would impose an inheritance tax on beneficiaries of estates.
The Manufacturers Association of Nigeria (MAN) praised the Federal Government for introducing four executive bills aimed at reforming the nation’s administrative framework. However, MAN also urged an end to the unlawful levies imposed by non-state actors. President of MAN, Francis Meshioye, described the reforms as timely and expressed optimism that their effective implementation would elevate the nation’s fiscal and tax administration standards.
In a related development, the Yoruba Ronu Leadership Forum (YRLP) voiced support for the position of Nigerian Customs Service Comptroller General Bashir Adeniyi regarding the tax reform measures. President of YRLP, Akin Malaolu, cautioned Nigerians that certain provisions in the bills could undermine existing customs operations. He pointed to the Lagos State model—which resulted in significant job losses across all cadres—as a warning that such reforms could lead to widespread inefficiencies in Customs, Immigration, and related agencies.
The issue has also drawn criticism from the North. Representative of the Arewa Consultative Forum, Yerima Ngama, argued that any provision resembling an inheritance tax should be removed from the federal law and left to states and local councils, given the diverse cultural and religious contexts across the region.
As the debate continues, both industry leaders and socio-political groups are urging the federal government and the President’s economic team to focus on genuine reforms. They call for a reduction in taxes, lower interest rates, and a decrease in the recently raised bank capital requirements—measures aimed at fostering private sector growth rather than relying on public sector strategies marred by corruption.
