Obi urges caution on tax reform bills, advocates public debate, stakeholder engagement

Peter Obi, the Labour Party’s former presidential candidate, has raised concerns over the tax reform bills currently under consideration by the National Assembly, urging a transparent and inclusive approach to policy making.

In a statement shared on Monday via his X handle, Obi acknowledged the importance of tax reform but stressed the need for extensive public consultations and stakeholder engagement to ensure its success and sustainability.

Obi emphasized that while tax reform is crucial, it should not be rushed through the legislative process without robust public debate. “Tax reform is a critical issue, and there is nothing wrong with pursuing it,” he stated.

“However, such reform must be subject to robust and informed public debate. A public hearing on tax reform is essential, allowing Nigerians from all walks of life to engage meaningfully.”

The former governor of Anambra State argued that public hearings would provide a platform for diverse opinions, fostering inclusivity and reflecting the will of the people. “Matters of this magnitude require extensive deliberation and careful consideration—they should never be rushed,” Obi added.

Obi also warned against the government focusing exclusively on increasing revenue collection without evaluating the broader implications of the proposed reforms.

“It is insufficient to focus solely on the benefits to the government, particularly in terms of increasing revenue collection,” he cautioned. “We must also take into account the overall impact on the nation and the sustainability of all its regions.”

He highlighted the potential risks of alienating the public if reforms are perceived as top-down measures lacking legitimacy and trust.

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Obi urged policymakers to prioritize transparency and public engagement to build trust in governance, which he described as the cornerstone of effective policymaking.

“Let us prioritize transparency, deliberation, and public engagement in charting the path forward,” he said. “This is how we build a truly participatory democracy. A new Nigeria is possible!”

Economists and policy analysts have weighed in on Obi’s remarks. Dr. Olusegun Ajayi, a tax expert and lecturer at the University of Lagos, commended Obi for emphasizing public participation.

“Tax reform affects every citizen. Ensuring a broad-based dialogue can help address concerns and foster compliance,” he said.

However, economic analyst Amaka Nwankwo warned of potential delays in implementing reforms. “While public hearings are vital, we must balance inclusivity with the urgency of addressing Nigeria’s fiscal challenges,” she noted.

Obi’s statement has ignited widespread discussion on social media. Many Nigerians supported his call for transparency and inclusivity, viewing it as a necessary safeguard against hasty policy decisions.

Critics, however, argue that Obi’s position lacks specificity regarding the reforms themselves, calling for a clearer stance on the proposed legislation.

The debate underscores the broader challenges of balancing fiscal reforms with public accountability in a complex political and economic landscape.

As the National Assembly deliberates on the bills, Obi’s insistence on public hearings and stakeholder engagement may shape the discourse around Nigeria’s tax reform agenda.