By Our Correspondent

In a bid to strenghten the nation’s economy and give SME’s space to grow, the Federal Government has unveiled a tax reform package aimed at simplifying compliance, reducing the burden on small businesses, low-income earners, and strengthening Nigeria’s revenue system.

This was the basis of the senstization forum titled, “Tax reforms and compliance: Impact on Small and Medium enterprises in the South east held at the International Conference Centre, Enugu .

Making this disclosure to  participants at the weekend,Senior Special Assistant to the President on Community Engagement, Southeast, Bar. Mrs Chioma Nweze said that President Bola Ahmed Tinubu’s administration is determined to make taxation fairer and more beneficial to ordinary Nigerians.

“Our women, especially market women, must understand why government collects tax, what government does with it, and how they should pay without exploitation.

“The president has removed fuel subsidy, unified the exchange rate, and increased allocations to states. These reforms will ensure more projects are delivered to benefit citizens,” she said.

Nweze emphasized that sensitizing women was deliberate, recalling that historical revolts such as the Aba Women’s Riot of 1929 were caused by unfair taxation.

“When women are informed, they carry the message to their families and communities. We don’t want exploitative practices to return; instead, women should be empowered to benefit from government initiatives,” she said.

Chairman of the Tax Appeal Tribunal, Southeast Zone, Bar. Chukwuemeka Eze explained that four new tax acts signed into law on June 26, 2025, now consolidate more than 20 scattered tax laws.

Eze noted that businesses with an annual turnover below N50 million are exempted from Companies Income Tax and Value Added Tax, while minimum wage earners will no longer pay personal income tax.

“This is progressive taxation. The rich will now pay more within their means, while the poor will be protected. The days when wealthy individuals paid little tax are gone,” Eze stressed.

He added that the reforms also introduced a Tax Dispute Resolution Mechanism that allows citizens to lodge complaints free of charge, with resolutions provided within 7–14 days.

Tax professional and Chartered Accountant, Mr. Innocent Chinyere Ohagwa, said the reforms were necessary to strengthen Nigeria’s fiscal base, describing SMEs as the “lifeblood” of the economy.

“SMEs account for more than 90% of businesses and nearly 60% of jobs in Nigeria. By removing multiple taxation and unfair levies, government is giving them space to grow, create wealth, and support economic diversification,” he said.

Dr. Zino Ugboma, representing the Nigerian Education Loan Fund (NELFUND), highlighted how tax revenues are being used to expand access to education.

He explained that undergraduates in universities, polytechnics, and colleges of education can now access tuition and living-cost loans, repayable only after gaining employment, two years post-NYSC.

“This is a direct way of showing that taxation is not just about collection, but also about giving back to the people,” Ugboma said.

The forum, which drew officials of the Federal Inland Revenue Service (FIRS), women leaders, professionals, and community stakeholders, ended with a call for stronger collaboration to ensure the success of the reforms.

Participants, including Mrs. Nnenna Otuonye, commended President Tinubu for pushing a fairer system and urged Southeast residents to embrace compliance for economic growth.

National Chairman of the African Democratic Congress (ADC) and former President of the Senate, Senator David Mark, has paid glowing tribute to former Military President, General Ibrahim Badamasi Babangida (rtd), as he marks his 84th birthday today.

In a goodwill message, Senator Mark, in statesman by his Media Adviser,Paul Mumeh described General Babangida as a patriot who believes firmly in the sanctity of one united and indivisible Nigeria.

According to him: “Today is not merely to mark the passage of time, but to celebrate the extraordinary life of a soldier, a patriot, and a statesman who, at 84, stands as a living monument to courage, service, and honour. From the day he first donned the nation’s uniform, General Babangida embodied the creed of duty before self.”

He noted that Babangida’s career, marked by discipline and distinction, spanned decades of national service; defending Nigeria’s sovereignty, safeguarding her unity, and mentoring generations of officers who went on to lead with the same integrity he exemplified.

The former Senate President recalled Babangida’s stewardship during his years of service: “In the barracks and on the battlefield, he was resolute. In the corridors of policy and leadership, he was wise. His voice carried the weight of experience, yet it was always tempered with humility.”

Mark further remarked that those privileged to serve under Babangida remember not only his tactical brilliance but also his humanity as a leader who could command with firmness yet inspire with compassion.

He added that even in retirement, General Babangida has never withdrawn from service to the nation. Instead, he has remained a moral compass in public discourse and an elder statesman whose counsel is sought across political divides.

“His patriotism was never about the uniform alone, but about a lifelong commitment to the ideals for which he once risked everything. At 84, his medals may have faded in shine, but his legacy gleams brighter than ever,” Mark stated.