Senior Advocate of Nigeria, Olisa Agbakoba has taken to his official X account to speak about the Tax Reform Bill that was proposed by the administration of President Bola Ahmed Tinubu.
His comment came following report from PREMIUM TIMES that the bill has passed the second reading.
Olisa Agbakoba stated that Northern Nigeria may have a reasonably arguable case. He said the country has always distributed revenue with clear principles.
He said Nigeria will continue to grapple with how to distribute revenue equitably unless revenue collection is politically devolves to states.
According to Olisa Agbakoba on his official page;
“Northern Nigeria may have a reasonably arguable case. We have always distributed revenue with clear principles.
“So, the North asks why the Revenue sharing formula in the proposed Tax Reform bill is not the same as that for sharing oil revenue? This is a huge problem! We will continue to grapple with how to distribute revenue equitably unless and until Nigeria politically devolves revenue collection to the states which implies massive devolution of powers from the centre.
“The North for example has capacity to generate massive revenue from mechanization of Agriculture, but it has not, as there are no strong incentives”.