Youth leaders back new tax law, warn vested interests against disruption

The Ethnic Youth Leaders Council has thrown its weight behind Nigeria's new tax law, warning it will resist any attempts to undermine the ongoing reform process. In a statement on Tuesday, the council described the tax regime as central to economic recovery and fiscal sustainability, designed to widen the revenue base, promote equity, and reduce borrowing.

The group alleged that resistance is coming from vested interests who benefited from the old, inefficient system and are uncomfortable with transparency and accountability measures. "We are aware of subtle and overt moves by vested interests who benefitted from the old, inefficient system," the statement read.

The council says it won't "fold its arms" while these interests try to derail a policy it believes holds long-term benefits, particularly for young people. The youth group commended the Federal Government for pressing ahead and urged Nigerians to show patience, stressing that concerns should be addressed through dialogue rather than obstruction.

The council called on security agencies to remain vigilant and protect lawful processes from disruption, reaffirming its readiness to mobilise stakeholders nationwide in support of the reforms.

What do you think—are these reforms genuinely aimed at fairness and transparency, or will they create new burdens for ordinary Nigerians and small businesses?

SOURCE: https://guardian.ng/news/youth-leaders-back-tax-reforms-warn-vested-interests-against-disruption/