President Bola Tinubu has called on the Nigerian Senate to ensure that the tax reform bills under review become practical and effective laws. He made this request four months after sending the bills to the National Assembly for approval.
During a public hearing in Abuja on February 24, the Senate Committee on Finance discussed the proposed laws. The convener of the Arewa Think Tank, Muhammad Alhaji Yakubu, dismissed claims that the northern region was against the reforms.
The four bills under review include:
- Nigeria Tax Bill 2024
- Nigerian Tax Administration Bill 2024
- Nigeria Revenue Service Establishment Bill 2024
- Joint Revenue Board Bill 2024
Senator Sani Musa, Chairman of the Senate Committee on Finance, revealed Tinubu’s request for practical laws during his remarks at the hearing.
“I met President Bola Ahmed Tinubu two days ago regarding the tax reform bills, and he told me, ‘Mr Chairman, Senate Committee on Finance, go and do the needful. Give me a law that is workable from the tax reform bills I forwarded to the Senate and House of Representatives in October last year.’
“That request from Mr President comes at a most appropriate time for this public hearing on the tax reform bills, which are not designed to burden any section of the country or grant undue advantage to others,” he said.
Last year, the bills faced strong opposition, delaying their approval in the House of Representatives.
The Senate passed them for a second reading on November 28, 2024, but resistance remained. However, during the latest hearing, opposition to the bills faded as stakeholders began supporting the reforms.
The Minister of Finance, Wale Edun, clarified that the new tax laws are not designed to burden the poor but to create opportunities for economic growth.
“The tax reform bills, as repeatedly explained since their introduction last year, aim to modernise our archaic tax laws to enhance efficiency, equity, and economic growth,” he said.
With growing support from key stakeholders, it appears that the long-debated tax reform bills are moving closer to becoming law.
