The Nigerian Senate has approved four tax reform bills for the second reading during its plenary on Thursday.
The Senate President, Godswill Akpabio, directed the bills to the Finance Committee, led by Senator Sani Musa, for further review. The committee is expected to present its findings in six weeks.
Senate Leader Opeyemi Bamidele presented the bills, explaining their purpose to streamline tax collection, address disputes, and improve Nigeria’s tax system.
He said, “These bills aim to establish a Joint Revenue Board, a Tax Appeal Tribunal, and a Tax Ombud. They also provide a framework for assessing, collecting, and accounting for revenue at all government levels, and consolidate existing tax laws.”
The bills include the Joint Revenue Board, Tax Appeal Tribunal, and Tax Ombud Establishment Bill; the Nigeria Revenue Service Establishment Bill, replacing the Federal Inland Revenue Service Act; the Revenue Administration and Tax Authorities Powers Bill; and the Nigeria Tax Act, consolidating income and transaction tax laws.
President Akpabio emphasized that the public hearing would include input from experts, governors, traditional rulers, and stakeholders. “At the end of the process, the Senate will ensure these reforms benefit Nigerians and strengthen the nation’s economy,” he assured.
The bills were initially submitted by President Bola Tinubu on September 3, based on recommendations from the Presidential Committee on Fiscal and Tax Reforms led by Taiwo Oyedele. Despite earlier calls for broader consultation, Tinubu encouraged the legislative process to proceed, allowing public participation at the hearing stage.
