The Arewa Think Tank (ATT) has cautioned against attempts by mischief makers to mislead Nigerians regarding the position of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) on President Bola Tinubu’s proposed tax reform bills currently before the National Assembly.
In a statement issued Tuesday by its Convener, Muhammad Alhaji Yakubu, ATT debunked reports circulating on social media that falsely claimed the RMAFC had opposed the tax reform bills.
Yakubu described such reports as baseless and aimed at creating disharmony between the Commission and the President.
“The RMAFC is constitutionally mandated to ensure equitable distribution of the country’s financial resources among the federal, state, and local governments. Any suggestion to the contrary is a deliberate attempt to misinform the public for selfish reasons,” Yakubu said.
He lauded RMAFC for publicly denying the claims and commended President Tinubu’s efforts under the Renewed Hope Agenda to implement tax reforms aimed at addressing Nigeria’s fiscal challenges.
Yakubu also emphasized the Commission’s support for the tax reform bills, highlighting their potential to strengthen Nigeria’s revenue mobilization capacity.
“These proposed reforms reflect the President’s visionary leadership in enhancing fiscal stability by integrating untapped revenue sources, including contributions from the informal sector, into the tax net,” he stated.
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He further noted that the reforms would improve Nigeria’s revenue-to-GDP ratio and elevate its standing among nations with strong fiscal performance, while also bolstering RMAFC’s ability to fulfill its constitutional mandate.
RMAFC, according to Yakubu, has already submitted a memorandum to the National Assembly addressing concerns related to revenue allocation, including the Value Added Tax (VAT) sharing formula. The Commission cautioned against amending the VAT sharing formula without its input, reiterating that such actions could violate constitutional provisions.
Yakubu however called on Nigerians to disregard the fake reports and support the President’s tax reform initiatives, which he described as crucial to repositioning the country’s revenue base and fostering sustainable development.