BREAKING: Senate passes final two tax reform bills

The Senate has officially passed the remaining two tax reform bills, completing the legislative approval of all four key pieces of legislation aimed at overhauling Nigeria’s tax framework.

With Thursday’s passage, the full package of tax reforms—part of the federal government’s broader fiscal policy strategy—now proceeds to the harmonisation stage.

A joint conference committee of the Senate and House of Representatives will reconcile any differences in the versions passed by both chambers before the bills are transmitted to President Bola Ahmed Tinubu for assent.

The four bills are:

• The Joint Revenue Board Establishment Bill
• The Nigeria Revenue Service Establishment Bill
• The Nigeria Tax Administration Bill
• The Nigeria Tax Bill

The reforms are expected to streamline tax processes, strengthen revenue collection, and enhance economic stability.

The legislative process has attracted considerable public and industry interest, given the implications for businesses, individual taxpayers, and the national economy.

“The successful passage of these bills is a significant step toward building a more efficient, transparent, and equitable tax system,” Senate President Godswill Akpabio said.