The Nigerian Senate has announced plans to hold a public hearing on the Tax Reform Bills, with the aim of finalizing and passing them for the third reading.
This was disclosed by Senator Abba Moro, Chairman of the Senate Ad-hoc Committee on Tax Reform, following a closed-door session with key government officials, including the Attorney-General of the Federation, Lateef Fagbemi (SAN), Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, and Chairman of the Revenue Mobilization Allocation and Fiscal Commission (RMAFC), Dr. Mohammed Bello Shehu.
Speaking to journalists after the session, Senator Moro noted the progress made in resolving contentious issues within the tax bills. He emphasized that the committee is working towards creating laws that serve the interests of all Nigerians.
“We have agreed amongst ourselves that we must synthesize the entire process to ensure that, at the end of the day, we give Nigerians what they want—a law that serves the purpose of all Nigerians,” Moro stated.
FIRS Chairman Zacch Adedeji, also expressed optimism about the progress of the bills, confirming that all identified issues have been resolved.
“All grey areas were discussed, identified, and clarified. Resolutions were made, and there’s consensus that Nigeria needs these laws. We are on the right track, and everything is going as planned,” he said.
The tax reform bills include:
The Nigeria Tax Bill (NTB) 2024
The Nigeria Tax Administration Bill (NTAB) 2024
The Nigeria Revenue Service (Establishment) Bill (NRSEB) 2024
The Joint Revenue Board (Establishment) Bill (JRBEB) 2024
These bills, which passed their second reading in the Senate on November 28, 2024, aims to streamline Nigeria’s tax administration framework, enhance revenue generation, and ensure fiscal accountability.
Senator Moro assured that the committee would finalize its work soon, enabling the bills to proceed for third reading and eventual passage into law.
