BREAKING: National Assembly Set To Pass Harmonised Tax Reform Bills Amid Controversy

National Assembly is set to pass the harmonised Tax Reform Bills amid resolved controversy.

NaijaOnPoint Nigeria reports that the National Assembly is poised to pass the harmonised tax reform bills as early as Tuesday, following the successful resolution of previously contentious clauses in the legislation.

This development was confirmed on Sunday by James Faleke, Chairman of the House Committee on Finance, who announced via his official X (formerly Twitter) account that the review process had been completed.

Faleke, who also led the House delegation on the harmonisation exercise, disclosed that the Joint Conference Committe, comprising members of both the Senate and the House of Representatives who had meticulously reviewed all sections of the bills and addressed areas of disagreement.

“The Conference Committee jointly established by the Senate and the House has concluded its assignment. Every clause of the four tax reform bills was examined thoroughly, and all grey areas have been effectively resolved,” Faleke stated.

He praised the dedication of the committee members, highlighting their extended deliberations which stretched through Thursday night, all of Friday, and into the early hours of Saturday.

Final Passage and Legislative Collaboration

With the harmonisation now complete, the tax reform bills are scheduled for final presentation before both chambers of the National Assembly for passage ahead of transmission to President Bola Tinubu for assent.

Faleke extended special appreciation to his Senate counterpart, Senator Sani Musa, Chairman of the Senate Committee on Finance, for his leadership and cooperation throughout the process.

“I sincerely commend the Senate Conference Committee, led by the distinguished Senator Sani Musa, for their professionalism. I also appreciate my colleagues on the House side for their tireless commitment to this national priority,” Faleke added.

What the Tax Reform Bills Aim to Achieve

The proposed legislation—four separate executive bills—is designed to modernise and overhaul Nigeria’s tax system, aligning it with international best practices and strengthening revenue generation.

Senate President Godswill Akpabio had earlier lauded lawmakers for their focus on building a tax system that meets global benchmarks.

“These executive tax bills are a game-changer. They aim to make our tax system more efficient, transparent, and development-driven,” Akpabio said during a recent Senate session.

Funding National Priorities and Oversight Mechanisms

According to Senator Sani Musa, parts of the projected tax revenue will support national security, technology, education, and infrastructure.

“The reforms are crucial for funding cybersecurity, defence upgrades, TETFund initiatives, and support for our military. A portion of the proceeds will be directed toward national peace and stability efforts,” Musa stated after plenary.

He also noted that the tax reform framework includes provisions to establish a tax ombudsman and a tax tribunal, ensuring transparency and accountability in tax administration.

Key aspects of the reform include updates to Value Added Tax (VAT), development levies, tax collection processes, and inheritance tax, elements that had previously faced public scrutiny and were revised accordingly.

“This reform is about fairness and sustainability. Nigerians will see the positive impact once the implementation begins,” Musa affirmed.