The Senate has passed four tax reform bills to the second reading, following deliberations during Thursday’s plenary session.
The bills, transmitted by President Bola Tinubu on October 3, aim to strengthen Nigeria’s tax framework and enhance revenue generation.
The proposed legislation includes the Nigeria Tax Bill 2024, Tax Administration Bill, Nigeria Revenue Service Establishment Bill, and Joint Revenue Board Establishment Bill.
These bills are designed to harmonise revenue administration, establish a Tax Appeal Tribunal and Ombudsman, and provide a clear legal framework to reduce disputes.
Deliberations highlighted mixed reactions from lawmakers.
While Sen. Ali Ndume expressed concerns over the timing and specific provisions, he stressed the need for broader consultations with governors, traditional rulers, and the National Economic Council (NEC) before implementation.
However, the Senate Chief Whip advocated advancing the bills to the public hearing stage to allow for detailed analysis and input from stakeholders.
The Presidency clarified that the reforms, which aim to reduce the tax burden and boost fiscal institutions, are not targeted at any particular region but are integral to the country’s development strategy. The next stage involves public hearings to refine the bills before further legislative action.