The Igbo Youths Progressive Forum (IYPF) has raised its voice against the proposed tax reform bill by President Bola Ahmed Tinubu’s administration, labeling it unjust, anti-people, and a direct threat to equity and fairness in Nigeria.
At a time when citizens are grappling with high inflation, unemployment, and poverty, this reform seeks to add to their burden while disproportionately benefiting a few industrialized states. The South East, already marginalized in federal allocations and development projects, stands to suffer further under this policy. The bill risks deepening the economic divide, jeopardizing the survival of small and medium enterprises (SMEs) that form the backbone of Nigeria’s economy. Many SMEs, already under immense pressure, may collapse under these new tax burdens, leading to job losses and stagnating growth.
Equally alarming is the proposal to transfer the funding of TETFund (Tertiary Education Trust Fund) to the national budget. This move threatens the independence and efficiency of an agency that has significantly improved Nigeria’s tertiary education system. Relying on the national budget would introduce inefficiencies, bureaucratic bottlenecks, and chronic underfunding, worsening conditions for students who already face poor infrastructure, incessant strikes, and rising tuition costs.
The IYPF condemns this reform as an affront to economic equity, education, and the nation’s future. By favoring wealthier states and neglecting less industrialized regions, the bill undermines the principles of unity and shared prosperity.
We urge the National Assembly to reject this bill and advocate for fair, inclusive policies that promote development across all regions. The IYPF remains steadfast in its commitment to defending the interests of the South East and ensuring a better future for all Nigerians.