The Nigerian Senate is set to consider four tax reform bills today after postponing the debate on Tuesday. The bills, transmitted by President Bola Ahmed Tinubu in October 2024, aim to reform the country’s tax regime and boost revenue for the federation.
Senator Musa Mohammed Sani, Chairman of the Senate Committee on Finance, has submitted the committee’s report, and senators will review it for clause-by-clause consideration.
But after submitting the committee’s report during plenary, the Senate President Godswill Akpabio asked that the senators be given copies to study for clause-by-clause consideration today.
Following this, the Senate leader, Senator Opeyemi Bamidele (APC, Ekiti Central) moved a motion that the remaining items on the Order Paper be stepped down for consideration today.
The motion was seconded by the Senate Minority Leader, Senator Abba Moro (PDP, Benue South).
President Bola Ahmed Tinubu had in October 2024 transmitted the four tax reform bills to the National Assembly for consideration and passage.
The four bills are: the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, the Joint Revenue Board Bill, and the Nigeria Tax Bill, which have been passed for a second reading by both the Senate and the House of Representatives.
According to Daily Trust, before the public hearing was held, there was a lot of push back on the bills, especially from the North.
Governors and members of the National Assembly from the region had noted serious concerns on some provisions in the presidential bills.
Some legislators revealed that after the public hearing, senators and members of the House of Representatives from the North had commissioned the services of some consultants who helped in bringing out serious defence on why some provisions in the original bills must be expunged.
The tax reform bills have had a tumultuous journey, with initial resistance from governors and lawmakers from the North. However, after intense debates and consultations, a consensus was reached, paving the way for public hearings.
Senator Opeyemi Bamidele emphasized the importance of passing the bills, stating, “Tax Reform Bills, 2024, its passage has become imperative to reform the country’s tax regime and shore up the revenue of the federation. This will also help governments at all levels to implement projects and deliver the dividends of democracy.”
