Prominent Peoples Democratic Party (PDP) chieftain Segun Showunmi has declared that Nigeria is long overdue for comprehensive tax reforms, pushing back against critics and aligning the move with global best practices.
Showunmi made the remarks in response to opposition voices questioning the timing and scope of the government’s proposed tax overhaul. He argued that Nigeria’s current tax framework is outdated and incapable of supporting the nation’s economic ambitions.
“Tax reforms are not just desirable, they are essential,” Showunmi stated. “Nigeria cannot continue to rely on antiquated systems while the rest of the world modernizes its fiscal policies. We must embrace reforms that strengthen revenue generation and ensure fairness.”
The PDP stalwart emphasized that reforms would help Nigeria diversify its revenue base, reduce dependence on oil, and create a more sustainable economic model. He noted that countries across Africa and beyond have already taken bold steps to modernize their tax regimes.
Critics, however, have raised concerns about the potential burden on citizens and businesses. Some argue that reforms could stifle growth if not carefully implemented. Showunmi dismissed these fears, insisting that the reforms are designed to balance efficiency with equity.
“Opposition voices must understand that reform is not synonymous with hardship,” he said. “When properly structured, tax reforms can ease compliance, broaden the tax net, and reduce pressure on ordinary Nigerians.”
He further highlighted that Nigeria’s tax-to-GDP ratio remains one of the lowest globally, underscoring the urgent need for change. “We cannot build infrastructure, fund education, or improve healthcare without a robust tax system,” Showunmi added.
The debate over tax reforms has intensified in recent weeks, with policymakers, economists, and civil society groups weighing in on the implications. While some call for gradual adjustments, others advocate for sweeping changes to address systemic inefficiencies.
Showunmi urged stakeholders to view reforms as a collective responsibility, stressing that transparency and accountability must accompany any new measures. He called on the government to engage citizens and businesses in dialogue to build trust and ensure smooth implementation.
As Nigeria grapples with economic challenges, the push for tax reforms is expected to remain a central issue in policy discussions. Showunmi’s strong defense of the initiative signals growing momentum for change, even as opposition voices continue to raise concerns.
