A former secretary of the All Progressives Congress Committee of Diaspora Chairmen, Ayoola Lawal, has urged caution in gazetting Nigeria’s tax reform laws, saying the National Assembly should revisit the controversial law and correct noticeable errors.
Mr Lawal, the immediate past chairman of APC in Scandinavian countries, warned that any deviation from due process could undermine constitutional governance, weaken public trust, and unsettle investor confidence.
Mr Lawal made the call in a statement on Monday on the backdrop of concerns raised by constitutional law experts over alleged discrepancies between bills passed by the National Assembly and versions reportedly gazetted.
Mr Lawal praised the executive for initiating the reforms and commended the National Assembly for passing them into law.
He pointed out that those achievements must be safeguarded through transparency, mutual trust, and strict adherence to constitutional procedures.
“The reforms are necessary and well-intentioned. That is precisely why serious caution is required to ensure that the integrity of the process is not questioned,” he said.
Mr Lawal stressed that the issue is not opposition to reform but the protection of democratic norms and institutional credibility.
He noted that legislative certainty carried significant implications for foreign investors and international partners.
According to Mr Lawal, global investors closely monitor how laws are finalised and enforced, particularly tax regulations that directly affect long-term planning and capital allocation.
He said, “Foreign investors value predictability, transparency, and respect for institutional processes. Any uncertainty around the finalisation of tax laws can affect confidence in Nigeria’s investment climate.”
He warned that unresolved discrepancies could invite legal disputes, delay implementation, and create uncertainty for multinational businesses operating in Nigeria, at a time when the country was seeking to attract increased foreign direct investment.
Mr Lawal urged the executive and legislature to resolve any outstanding issues collaboratively and transparently, including returning disputed provisions to the national assembly where necessary.
“In the interest of Nigeria, reforms must be credible as well as effective,” he said.
He urged stakeholders to prioritise national interest, uphold the rule of law, and reinforce Nigeria’s standing as a reliable destination for global investment.
(NAN)