Just In: Senate Passes Two Major Tax Reform Bills, Pledges To Finalise Remaining On Thursday

The Nigerian Senate has approved two out of the four pivotal tax reform bills currently under legislative scrutiny.

Naijaonpoint reports that the approved legislation includes the repeal of the Federal Inland Revenue Service (Establishment) Act and the introduction of the Joint Revenue Board (Establishment) Bill 2025, alongside the Nigeria Revenue Service Bill 2025.

These were passed after a comprehensive clause-by-clause analysis during the Committee of the Whole, followed by a third reading on the Senate floor.

The suite of tax reform bills was initially submitted by President Bola Ahmed Tinubu in October 2024 for the National Assembly’s review and endorsement.

Senate President Godswill Akpabio hailed the development as a step in the right direction for national governance and economic efficiency.

“These bills will add immense value to governance and transform how taxes are collected and shared in Nigeria,” the Senate President said.

He also reaffirmed the Senate’s commitment to completing the process by Thursday, indicating a willingness to extend sitting hours if necessary.

“We are committed to concluding the outstanding bills tomorrow, even if we have to stay here until 10 p.m.,” Akpabio said.