Senate fixes date for public hearing on four tax reform bills to enhance administration in Nigeria 

This announcement was made on Wednesday by the Chairman of the Senate Committee on Finance, Sen. Sani Musa in Abuja, who disclosed that the public hearing would take place on February 24 and February 25.

Following an extensive debate on the House floor, the Nigerian House of Representatives had passed the four tax reform bills for a second reading.

“We intend to address two of the bills each day of the session to keep the press fully informed about our intentions,” Sen. Musa explained.

The four bills under consideration are the Nigeria Tax Bill, 2024; Nigeria Tax Administration Bill; Nigeria Revenue Service Establishment Bill; and Joint Revenue Board Establishment Bill. According to Sen. Musa, these bills will significantly overhaul the country’s tax administration and revenue generation, with many provisions being landmark in nature.

He added that the bills would elevate Nigeria to the level of advanced economies, ensuring adequate funding for infrastructure, education, agriculture, and other sectors of the economy.

“It is our duty as legislators to do what is necessary for the good of this country. We represent different tribes, religions, and regions, but we are all Nigerians. Our goal is to enact laws that will put us on track economically. By the grace of God, we will succeed,” Sen. Musa stated.

Sen. Musa assured that the National Assembly would ultimately produce tax administration legislation that would be acceptable to Nigerians.

Last week, following a debate lasting over four hours, the bills were passed for a second reading when put to a vote by Speaker Abbas Tajudeen.

The National Economic Council (NEC), composed of governors and chaired by Vice President Kashim Shettima, urged the president to withdraw the bills for further consultations. Nonetheless, President Tinubu insisted that all concerns be addressed in the National Assembly.