WATCH THE VIDEO HERE The Senate has passed two out of four major tax reform bills, marking a significant milestone in the ongoing overhaul of the nation’s tax administration framework. The two bills, one seeking to repeal the Federal Inland Revenue Service (Establishment) Act and another to establish the Joint Revenue Board (Establishment) Bill 2025 along with the Nigeria Revenue Service Bill 2025, were passed following a clause-by-clause consideration during the Committee of the Whole and their subsequent third reading on the Senate floor. President Bola Ahmed Tinubu had in October 2024 transmitted the four tax reform bills to the National Assembly for consideration and passage. However, the bills were met with opposition from many quarters, particularly from Northerners, who lamented that the bills put their interests at stake. During deliberations, the upper chamber went through the clause-by-clause consideration of the four key tax reform bills submitted by the Chairman of the Senate Committee on Finance, Mr Sani Musa. The Senate President, Godswill Akpabio, commended the progress, expressing optimism that the reform bills would not only enhance governance but also revolutionise tax collection and distribution across the country. “These bills will add immense value to governance and transform how taxes are collected and shared in Nigeria,” he said. He further assured that the remaining two bills would be finalised today (Thursday), even if it required extended sitting hours. “We are committed to concluding the outstanding bills tomorrow, even if we have to stay here until 10 p.m.,” Mr Akpabio said.
Senate to Finalise Passage of Tax Reform Bills Today
