Peoples Democratic Party (PDP) chieftain, Segun Showunmi, has defended ongoing tax reform efforts in Nigeria, insisting that the changes are long overdue and necessary for the country’s economic stability and growth.
Showunmi made the remarks while responding to criticism from the National Opposition Movement (NOM), which had raised concerns over the direction and impact of the proposed tax reforms. He argued that Nigeria’s tax system has remained outdated for decades and can no longer sustain the nation’s development needs.
According to him, effective tax reforms are critical to reducing overreliance on borrowing and oil revenues, while strengthening internally generated revenue in line with global best practices. He maintained that many advanced and emerging economies have successfully used tax reforms to drive infrastructure development and social services.
Showunmi dismissed claims that the reforms would unfairly burden citizens, stating instead that the focus should be on widening the tax net, improving compliance, and ensuring transparency in revenue collection and utilisation.
He also urged critics to engage constructively rather than politicising reforms that are necessary for Nigeria’s long-term economic survival. “Nigeria cannot continue to run a modern economy with an outdated tax framework,” he said.
The debate over tax reforms has continued to generate reactions across political and economic circles, with supporters describing the move as inevitable, while opponents warn of potential hardship if not carefully implemented.
As discussions continue, analysts say stakeholder engagement and public trust will be key to the success of any comprehensive tax reform programme.
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