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  • Senator Adeola hails Tinubu for signing landmark tax reform bills into law

    Senator Adeola hails Tinubu for signing landmark tax reform bills into law

    Senator Solomon Adeola (APC, Ogun West), Chairman of the Senate Committee on Appropriations, has commended President Bola Tinubu for signing into law four landmark tax reform bills aimed at overhauling Nigeria’s fiscal system.

    In a statement issued by his media adviser, Kayode Odunaro, the senator said the new laws will significantly reshape the nation’s fiscal landscape by removing oppressive taxes on vulnerable Nigerians, simplifying tax compliance, boosting domestic productivity, and making Nigeria more attractive to foreign investors.

    Adeola, a public finance and tax expert, also lauded the National Assembly for its diligent review and passage of the bills. 

    He praised the legislature for acting as a true people’s parliament by engaging stakeholders and the public in wide-ranging consultations, public hearings, and expert analyses, particularly on contentious provisions within the reform bills.

    “This participatory process ensured that the final legislation reflects the collective interest of Nigerians, striking a balance between fiscal sustainability, equity, economic growth and social welfare that aligns fully with the vision and values of the Renewed Hope Agenda of President Tinubu,” he stated.

    Senator Adeola, who is also a member of the Senate Finance Committee that midwifed the laws, said that with the enactment of the four transformative tax laws – Nigeria Tax Act, Nigeria Tax Administration Act, Nigeria Revenue Service (Establishment) Act and Joint Revenue Board (Establishment) Act, the President has demonstrated yet again, purposeful leadership and political will to initiate and see through critical reforms required to promote inclusive growth and economic development in Nigeria.

    “In specific terms, the Nigeria Tax Act will provide a unified fiscal legislation governing taxation in Nigeria, while reducing tax duplication and multiplicity in order to simplify tax compliance for individuals and businesses. The Nigeria Tax Administration Act will provide uniform procedures for consistent and efficient administration of tax laws in order to facilitate compliance by taxpayers and optimization of tax revenues,” he stated.

    He stated that the Nigeria Revenue Service, (Establishment) Act which replaces the Federal Inland Revenue Service (FIRS) with the Nigeria Revenue Service (NRS) expanded the mandate of the revenue agency to include optimising government revenues from tax and non-tax sources.

    He added that the Joint Revenue Board (Establishment) Act sets up the Joint Revenue Board to harmonise and coordinate revenue administration in the country as well as provides the legal framework for the operations of Tax Appeal Tribunals and introduces the Office of the Tax Ombudsman for protection of taxpayers’ rights.

    “Importantly, it is worthy to mention that these reforms will deliver tangible and far-reaching benefits to ordinary Nigerians. Key among these is the zero-rating of VAT on essential goods and services such as basic food items, education, healthcare, sanitary products and locally manufactured pharmaceuticals, making them more accessible and affordable for the general population. In addition, individuals earning ₦800,000 or less annually are now fully exempt from personal income tax, thereby easing the financial burden on low-income earners and boosting their disposable income,” he stated. 

    Among other benefits of the tax reforms laws, according to Senator Adeola, are the fact that small businesses and start-ups stand to gain significantly through higher turnover thresholds for tax exemptions, streamlined registration and filing processes and protection against multiple taxation across federal, state and local levels with rural and underserved communities are expected to benefit from better allocation of tax revenues towards critical infrastructure and public services such as schools, health centres, and rural roads.

    Senator Adeola enjoined all well-meaning Nigerians to support the Renewed Hope Agenda of the President and the full implementation of the historic tax laws that promises the maximization of peoples’ welfare and economic prosperity for all.

    “The signs of Nigeria’s economic recovery under President Tinubu’s leadership are clear and measurable. GDP growth rebounded to 3.86%, the fastest in three years, while national revenue rose to ₦21.6 trillion from ₦12.37 trillion, reflecting stronger fiscal performance. 

    “The budget deficit dropped from 6.2% in 2023 to 4.17% in 2025 and forex reforms have restored investor confidence, stabilizing markets. Inflation is declining, the Naira has stabilized and the dual exchange rate regime has been abolished, creating transparency and attracting over $40 billion in foreign investment. Non-oil exports have grown by nearly 40% and Nigeria recorded a ₦18 trillion trade surplus” the senator stated.

  • Implementation of Tax Reform Bills begins next year

    Implementation of Tax Reform Bills begins next year

    A new tax regime anchored on the Tax Reform Bills, awaiting Presidential assent,  will go into effect in January, The Nation has learnt.

    The six-month window is to allow for sensitisation of Nigerians after President Bola Ahmed Tinubu might have signed the harmonized version of the bills, marking a significant step in the government’s ambitious drive to overhaul the tax system.

    A sources said apart from sensitizing the public, the period between the Presidential assent and end of the year, will be used to make adequate preparation for the implementation of the law.

    It was also learnt that the Presidency has received clean copy of the passed bill following then transmission from the National Assembly.

    They are currently being scrutinize by the Presidency ahead of the Presidential assent.

    The bills are: the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.

    Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, yesterday confirmed the transmission of the passed bills from the National Assembly to the Presidency at a lecture in Abuja organized to mark the 50th birthday of Mr. Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms.

    “It was, I think, yesterday that it was finally delivered to Mr. President by the National Assembly for him to sign off on the four tax reform bills,” Edun said, describing the moment as a critical milestone in the Tinubu administration’s reform agenda.

    Read Also: JUST IN: Tax reform bills ready for presidential assent as Reps adopt harmonised bills

    The minister said the bills, once signed into law, are expected to significantly improve the efficiency and fairness of Nigeria’s tax system, while nearly doubling the country’s tax-to-GDP ratio, which remains among the lowest globally.

    “There is still hard work to be done in efficiently implementing the bills that have been passed. But they promise to change the fiscal landscape,” the minister said.

    Praising President Tinubu’s persistence in pushing the tax reform process through challenging times, Edun stated: “Mr. President knew the value of those four tax reform bills and kept going through thick and thin, through turbulence and through wind. He just kept going, supporting you,” he said, referring to Oyedele.

    According to him, the fiscal reforms championed by the Committee are central to Tinubu’s goal of lifting millions of Nigerians out of poverty.

    He listed agriculture, infrastructure (including digital infrastructure) and access to finance as strategic sectors targeted for inclusive growth.

    The minister credited Oyedele’s expertise and communication skills for making the reforms broadly accessible.

    He said: “You had the grace, the gift of being able to take a complex subject, and time after time, tirelessly break it down and simplify it for all types of audiences—the high, the low, the knowledgeable, the less knowledgeable.” “And that’s why we have today success in terms of a proposal for proposed bills that are now ready for Mr. President to sign into law.”

    According to him, the reforms will introduce a fairer, more transparent tax system aligned with global best practices.

    “They will give greater fairness. They will give clarity. They will give ease of administration, best practice around the world. And ultimately… they’ll give more revenue for government so that the legitimate demands of our people can be met in social services, health, education, and basic infrastructure,” he said.

    Referencing Oyedele’s impact on public attitudes toward taxation, Edun said: “You went out and you saw and heard from people that they didn’t feel they were in any way obliged to pay tax. You have worked tirelessly to help change people’s perspective on that.”

    He added that voluntary compliance plays a crucial role in the effectiveness of tax policies.

    Oyedele offered a critical assessment of the country’s economic environment, stating that regulatory bottlenecks and tariff burdens were equivalent to granting tax waivers to a few, while discouraging investment and productivity.

    The tax expert said: “Addressing our tariffs and regulatory hurdles is the equivalent of granting waiver from all income and consumption taxes. We also need fiscal reforms to complement a strong and stable Naira, such as payments of all taxes in naira.”

    Oyedele, who stressed that the work of the committee was far from finished, called for a downward revision of corporate tax rates to attract new investments and stimulate economic expansion, warning that high tax rates, especially in an inflationary environment, amount to taxing capital instead of profit.

    He said Nigeria must also resolve issues of regulatory overreach and embrace digitisation as part of its economic reform package.

    “We must refine our tariff system to reduce the rates on raw materials and intermediate products, which currently are twice the average for sub-Saharan Africa,” Oyedele said.

    Cautioning the elite to resist the temptation of simplistic solutions in public policy debates, Oyedele said: “The elite must apply more intellectual rigour in policy debates, challenge long-held theoretical beliefs and question assumptions within context. We must avoid crowd-pleasing analysis because after the applause, the pain remains.”

    On what the government should do, Oyedele suggested that public institutions should only carry out tasks that the private sector cannot do, and should do so efficiently, collecting the least amount of tax necessary to meet basic public service standards.

    He also spoke to the need for quality, non-inflationary spending by government, urging greater prudence and planning in fiscal policy implementation. According to him, ordinary Nigerians must also rise to the responsibility of civic participation.

    The President, whose assent to the bills will formally launch a new chapter in Nigeria’s tax administration, felicitated Oyedele on his birthday.

    In a statement by his Special Adviser on Information and Strategy, Bayo Onanuga, the President described “an accomplished tax expert, accountant, and economist who exemplifies excellence, resilience, and innovation in public and private service.”

    The President highlighted Oyedele’s inspirational rise from modest beginnings in Ikaram Akoko, Ondo State, to global recognition, with academic laurels from prestigious institutions including the London School of Economics, Yale University and the Harvard Kennedy School.

    “From his early years in Ikaram Akoko to his decades of leadership at PwC and his studies abroad, Mr Oyedele has shown that merit, discipline, and integrity are the foundations of actual achievement,” the President said.

    Recalling the mandate given to Oyedele and his team during the inauguration of the reform committee, Tinubu stated: “When I inaugurated the Presidential Committee on Fiscal Policy and Tax Reforms on August 8, 2023, I tasked the committee under his chairmanship with a bold mission to reform Nigeria’s tax and fiscal landscape, raise our Tax-to-GDP ratio to 18% within three years, and make the business environment more attractive.”

    The President expressed satisfaction with the progress made so far, noting, “although I am awaiting the harmonised four tax bills to append my signature, indications are that the reforms will enable us to reach our targeted tax-to-GDP ratio, which has already risen from 10% to over 13.5%.”

    He also commended Oyedele, who previously served as Africa Tax Leader at PwC, for playing a pivotal role in steering Nigeria towards “a fairer, simpler, and more growth-oriented tax system.”

  • JUST IN: Tax reform bills ready for presidential assent as Reps adopt harmonised bills

    JUST IN: Tax reform bills ready for presidential assent as Reps adopt harmonised bills

    The four tax reform bills submitted by President Bola Ahmed Tinubu in October 2024 are now ready for presidential assent following the harmonisation of the versions of the bills passed by both chambers of the National Assembly.

    At plenary on Wednesday, the House of Representatives considered the report of the conference committee, which harmonised the bills.

    Chairman of the House Committee on Finance, James Abiodun Faleke (APC, Lagos), who headed the House team to the conference committee, presented the conference report to the House for consideration.

    He said the conference committee met and agreed on all areas of difference in the version passed by both chambers of the National Assembly.

    Faleke said that there were 45 areas of difference in the Nigeria Tax Administration Bill, 12 areas of difference in the Nigeria Revenue Service Bill, 9 areas of difference in the Joint Board Bill and 46 areas of difference in the Nigeria Tax Bill, adding that the differences were agreed upon and resolved by the committee.

    While the conference committee agreed to retain the Senate version in some of the clauses, they also retained the House version in some others, making amendments in a few others.

    The conference committee agreed to the imposition of a 4 percent development levy on assessable profit of all companies chargeable to tax under chapters two and three, other than small companies and non-resident companies.

    They also agreed that the levy shall be collected by the Nigeria Revenue Service and paid into a special account created for that purpose.

    In the sharing formula, the committee agreed that 50 percent of the tax will go to Tertiary Education Trust Fund, 15 percent to the Education Loan Fund (up from 3 percent agreed by the House), 8 percent to Nigeria Information Technology Development Fund (up from 5 and 10 agreed by both chambers).

    Also, the National Agency for Science and Engineering Infrastructure is to get 8 percent (down from. 10 percent earlier agreed by both chambers), the National Board for Technology Incubation is to get 4 percent from the fund, defence and security infrastructure is to get 10 percent while cyber security fund will get 5 percent.

    The Social Security fund, the Nigeria Police Trust Fund, National Sports Development Fund were excluded from the list of beneficiaries passed by the House of Representatives.

    The committee, however, adopted a new clause 158, which imposes a 5 percent surcharge on chargeable fossil fuel products provided or produced in Nigeria and shall be collected at the time a chargeable transaction occurs.

    A close study revealed that the contentious VAT sharing formula was not part of the areas of disagreement between the two chambers.

    Read Also: Reps to investigate alleged mismanagement of student loan disbursement

    Speaking after the passage, Deputy Speaker, Benjamin Kalu said the National Assembly has shown great support for the progress of the country, adding that with the passage of the bills, the country has moved from where it was to where it ought to be.

    He said the National Assembly will rise to take the country to prosperity, while commending Nigerians for the support they showed throughout consideration, saying the four bills will position Nigeria and put it on the path of growth.

    Ahmed Jaha (APC, Borno) warned those who will clean up the bill not to tamper with any of the clauses passed, saying, “where the ‘T’ is not crossed, don’t cross it, where the ‘I’ is not dotted, don’t do it. We have the original copies of the bills as passed before and after harmonisation.

    “We have had cases in the past where those in charge of cleaning up the bills tamper with them, and at the end of the day, the President will withhold assent. That must not happen”.

  • JUST IN: Senate passes harmonised report on tax reform bills

    JUST IN: Senate passes harmonised report on tax reform bills

    The Senate on Wednesday adopted the harmonised conference committee report on the four tax reform bills.

    The resolution of the Senate followed its consideration and approval of the recommendations of the conference committee of both chambers set up to harmonize the Bills.

    The Chairman of the Senate Committee on Finance and leader of the Senate delegation in the conference committee, Senator Mohammed Sani Musa, presented the report.

    Read Also: Tinubu seeks Senate approval to raise $2bn in domestic debt market 

    The four tax reforms Bills which were transmitted to the National Assembly in November last year by President Bola Ahmed Tinubu include: The Joint Revenue Board (Establishment) Bill, 2025 (SB. 583); Nigeria Revenue Service (Establishment) Bill, 2025 (SB. 584); Nigeria Tax Administration Bill, 2025 (SB. 585); and Nigeria Tax Bill, 2025 (SB. 586).

    Details shortly…

  • Tax Reform Bills likely for passage this week

    Tax Reform Bills likely for passage this week

    The harmonization of the minor grey areas in the Tax Reform Bills has set the stage for the laying and passage of the bills at the Senate and the House of Representatives.

    The four tax bills were sent to the Joint Harmonisation Committee made up of members from the Red and Green Chambers of the National Assembly to reconcile the differences before their passage.

    It was learnt there the joint committee had minor areas to rework and represented to members for final consideration.

    In his remarks at the maiden of the All Progressives Congress (APC) Summit, President Bola Ahmed Tinubu demanded final legislative action on the Bills. 

    The Four bills were passed by the House of Representatives in March before they went on Sallah and Easter break, while the Senate passed its own version shortly after resumption from the Easter holiday.

    As a result of grey areas in the version passed by the two chambers, a joint panel was raised by the leadership of the two chambers to harmonise the bills.

    Indications that the harmonised version will be passed is contained in a post on the X-handle of the Chairman of the House Committee on Finance, James Abiodun Faleke who led the House delegation for the harminisation.

    Faleke said in the tweet that “the Conference Committee set up by the House and the Senate on the Tax Reform Bills has successfully concluded its work.

    READ ALSO: One day with President Tinubu

    “The joint committees thoroughly reviewed all sections and addressed the grey areas of the four Bills, examining each clause strategically and resolving contentious issues.

    “After an intensive deliberation that stretched through Thursday night, all day Friday and into the early hours of Saturday, I am pleased to report that the Bills are now ready for presentation to both the House and the Senate for final passage.

    “I would like to specially appreciate the Senate Conference Committee, ably led by the Chairman of the Senate Committee on Finance, the Distinguished Senator Sani Musa, as well as all members of the Senate Conference Committee.

    “I also extend heartfelt gratitude to my colleagues on the House Conference Committee, which I had the honour to lead, for their unwavering commitment to the Nigerian people.

    “We are truly grateful for your dedication and resilience in bringing this important task to a conclusion.”

  • NASS may pass harmonised tax reform bills this week

    NASS may pass harmonised tax reform bills this week

    The National Assembly may consider and pass the harmonised tax reform bills before the end of May, The Nation investigations revealed on Sunday. 

    The four tax bills were sent to the joint harminisation committee made up of members of the Senate and the House of Representatives to work on and agree on gray areas in the bill before it is transmitted to th President for his assent. 

    The four bills were passed by the House of Representatives in March before they went on sallah and Easter break, while the Senate passed its own version shortly after resumption from the sallah break. 

    As a result of gray areas in the version passed by the two chambers, a joint committee was set up by the leadership of the two chambers to harmonised those gray and arrive at a common document. 

    Indications that the harmonised bills will be passed is contained in a post on the X-handle of the Chairman of th House Committee on Finance, James Abiodun Faleke who led the House delegation for the harminisation. 

    Faleke said in the tweet that “the Conference Committee set up by the House and the Senate on the Tax Reform Bills has successfully concluded its work.

    Read Also: The Nigeria/ Burkina Faso tango: Some historical notes

    “The joint committees thoroughly reviewed all sections and addressed the grey areas of the four Bills, examining each clause strategically and resolving contentious issues.

    “After an intensive deliberation that stretched through Thursday night, all day Friday, and into the early hours of Saturday, I am pleased to report that the Bills are now ready for presentation to both the House and the Senate for final passage.

    “I would like to specially appreciate the Senate Conference Committee, ably led by the Chairman of the Senate Committee on Finance, the Distinguished Senator Sani Musa, as well as all members of the Senate Conference Committee.

    “I also extend heartfelt gratitude to my colleagues on the House Conference Committee, which I had the honour to lead, for their unwavering commitment to the Nigerian people.

    “We are truly grateful for your dedication and resilience in bringing this important task to a conclusion.”

  • Experts tout gains of Tax Reform Bills as Senate, Reps harmonise recommendations

    Experts tout gains of Tax Reform Bills as Senate, Reps harmonise recommendations

    With the two chambers of the National Assembly in the process  of harmonizing their  recommendations on the tax reforms bill, public expectations about the positive impact this could have on the economy tend to be high.

    A  cross-section of economic and financial experts told The Nation that the country stands to gain immensely from the bills when they go into effect.

    Economist  Muda Yusuf said the bills would impact positively on the economy in several ways.

    Dr. Yusuf, former Director General of the Lagos Chamber of Commerce and Industry (LCCI) said the reform would  “improve on the efficiency of tax administration.”

    “We are likely to see a lot more leveraging of technology and when the tax administration is efficient, it will improve government revenue, it will improve the capacity of the government to be able to support the citizens by way of investing in the infrastructure and taking care of the welfare of the people, as provided if those resources are also spent very efficiently and also administered very transparently,” he said.

    “We expect more resources to translate to improvement in welfare and improvement in productivity in the economy.

    “Secondly, is the fact that the tax reform is going to ensure that all the obsolete tax laws are completely removed from our tax legislations. There are some laws that have been there for 30, 40, 50 years.

    “Some of them even date back to colonial times, like the issue of tax on wheelbarrows, on bicycles, and radio. These are very archaic laws. It sometimes could even be a source of nuisance.

    “Those kinds of laws have been removed by virtue of this law, so it’s a very commendable thing that at least some of these obsolete laws are being removed. Then, we expect to see the streamlining of taxes. With this tax reform, many of the taxes that we grapple with now, many of those taxes will be streamlined and the number of taxes will be reduced.”

    Dr. Yusuf, who is the Chief Executive Officer at the Centre for the Promotion of Private Enterprise [CPPE], lamented that , “Currently, we have too many taxes and according to the Presidential Committee on the Reform, they talk about over 100 different kinds of taxes imposed collectively by the state, the federal, and the local governments. We also have all manner of taxes by non-state actors.”

    Read Also: JUST IN: Senate passes two remaining tax reform bills

    This multiplicity of taxes and the nuisance that it creates, he stressed, “will be a thing of the past. So, from that point of view, I think it is something positive. It’s also worthy of note that the National Assembly did not agree to the proposal that was contained in the bill as presented that VAT should be increased to 10%. So, I think this is a very sensitive demonstration of the sensitivity of the National Assembly. The VAT has been retained at 7.5% and the National Assembly has argued that it is because of the current hardship. So, that for me, I think, is also a good development that we have seen.”

    “So, on the whole, we expect a lot of improvement in our tax environment. We are also hoping to see that as we implement these tax reforms, if there are things that we need to review or modify as we progress, I think we should not hesitate to do so. Because there is no reform that is perfect, there is no legislation that is perfect. I think we should be ready to fine-tune it as we progress with the implementation. And we need to do a lot more to eradicate taxes imposed by non-state actors.

    “These things happen a lot, especially in our markets. It also happens a lot in our transportation sector. A lot of taxes are imposed by non-state actors. So, we need the commitment of the security agencies and the tax reform committee to take a firm action against these arbitrary taxes that are imposed by non-state actors,” he noted, adding that, “It has reached a level of impunity that even, as we speak, the security agencies are not able to do anything about it. So, that should not be allowed to continue.

    Financial/Tax analyst Evans Braimah was of the same view.

    “The recommendations we have seen from the draft document show that the country is on the right pedestal for growth. The reforms have lots of positives which if well-implemented will do a lot of good for the economy,” he said.

  • Senate, House to reconcile differences in Tax Reform Bills

    Senate, House to reconcile differences in Tax Reform Bills

    • Red Chamber raises 15-man panel after passage of proposal

    Almost seven months after they were tabled, the Senate yesterday completed the passage of the four Tax Reform Bills.

    That action opens the way for a comprehensive review of the nation’s tax laws – the first since the colonial era.

    The Bills will radically transform the tax system, widen the tax net and bring in more revenue in a streamlined manner into government coffers.

    It would also make it difficult for taxes to be dogged.

    The House of Representatives passed the bills on March 18.

    Yesterday, the Senate raised a 15-man conference panel that will hold meetings with the House of Representatives to harmonise the differences in the Bills as passed by the two chambers.

    After the harmonization, a clean copy of the Bills will be presented for Presidential assent.

    Members of the panel are: Senators  Abba Moro, Abdulaziz Yari, Enyinnaya Abaribe, Yahaya Abdullahi, Sani Musa, Adetokunbo Abiru, Joel-Onowakpo Thomas, Asuquo Ekpenyong, Jim Kuta, Gbenga Daniel, Osita Izunaso, Solomon Adeola,  Adams Oshiomhole, Babangida Uba, and Mohammed Tahir Monguno.

    The bills are the Nigeria Tax Bill 2024, the Nigeria Tax Administration Bill, the Nigeria Revenue Service Establishment Bill, and the Joint Revenue Board Establishment Bill.

    Read Also: FULL LIST: Nigeria, others not indebted to IMF

    During the clause-by-clause consideration in the rundown to passage, the Senate deleted  contentious and ambiguous clauses  in the Bills.

    Senate President Godswill Akpabio, who presided over plenary, lauded the lawmakers for their sacrifice in ensuring that the tax system in Nigeria meets international standard.

    “These four executive bills seek to transform and modernise the tax system in Nigeria,” Akpabio said.

    Speaking to reporters after the plenary, the Chairman of the Senate Committee on Finance, Senator Sani Musa explained that his panel did its best to ensure the taxation system meets international standard.

    He said: “What we did was to look at the tax bills and do the needful.

    “President Tinubu brought the tax reform bills to see how his government could bring economic development.

    “We underwent a public hearing and had a retreat with 76 organisations.

    “Religious leaders and other relevant stakeholders were also in attendance. We also agreed that the Nigerian Revenue Service will need at least six directors.”

    Musa said the senators recommended that the President needs to appoint a chairman and create an ombudsman to arbitrate and adjudicate on tax-related matters.

    He harped on the need for the establishment of a tax tribunal, which he said cannot be overemphasised.

    “It is not a court of record. We have looked at the issue of VAT, collection of taxes, development levy and inheritance tax which had been expunged.

    “I believe Nigerians wiĺl see something nice from this. We also commend the President for giving a level-playing field to all,” he said.

  • Senate passes other Tax Reform Bills

    Senate passes other Tax Reform Bills

    The Senate on Thursday passed the remaining two Tax Reform Bills after a clause-by-clause consideration in the committee-of-the-whole.

    The Bills are the Joint Revenue Board (Establishment) Bill, 2025 and Nigeria Tax Bill, 2025.

    The development came barely 24 hours after the Upper Chamber passed the Nigeria Revenue Service (Establishment) Bill, 2025 and the Nigeria Tax Administration Bill 2025.

    The Senate deleted  contentious and ambiguous clauses  in the two Bills and set up a conference committee to reconcile the differences in the Senate version and the one already passed by the House of Representatives.

    Senate President Godswill Akpabio who presided over plenary, lauded the lawmakers for their sacrifice in ensuring that the tax system in Nigeria meets international standard.

    Read Also; Tinubu pledges commitment to promoting independence of judiciary

    “These four executive bills seek to transform and modernise the tax system in Nigeria,” Akpabio said.

    Speaking to reporters after the plenary, the Chairman of the Senate Committee on Finance, Senator Sani Musa explained that his panel did its best to ensure the taxation system in Nigeria meets international standard.

    He said: “What we did was to look at the tax bills and do the needful.

    “President Tinubu brought the tax reform bills to see how his government could bring economic development.

    “We underwent a public hearing and had a retreat with 76 organisations present.

    “Religious leaders and other relevant stakeholders were also in attendance. We also agreed that the Nigerian Revenue Service will need at least six directors.”

    Musa said the senators recommended that the President needs to appoint a chairman and create an ombudsman to arbitrate and adjudicate on tax-related matters.

    He harped on the need for the establishment of a tax tribunal, which he said cannot be overemphasised.

    “It is not à court of record. We have looked at the issue of VAT, coĺlection of taxes, development levy and inheritance tax which had been expunged.

    “I believe Nigerians wiĺl see something nice from this. We also commend the President for giving a level playing field to all,” he said.

    He said the conference committee would reconcile the amendments carried out by both chambers of the National Assembly,

    Members of the conference committee named by Akpabio include: Senators  Abba Moro, Abdulaziz Yari, Enyinnaya Abaribe, Yahaya Abdullahi, Sani Musa, Adetokubo Abiru, Joel-Onowakpo Thomas, Asuquo Ekpenyong, Jim Kuta, Gbenga Daniel, Osita Izunaso, Solomon Adeola,  Adams Oshiomhole, Babangida Uba, and Mohammed Tahir Monguno.

  • Senate to consider report on tax reform bills on Wednesday

    Senate to consider report on tax reform bills on Wednesday

    The Senate will on Wednesday begin the consideration and possible passage of the Tax Reform Bills.

    Senate President Godswill Akpabio disclosed this during plenary following the resumption of the red chamber from its Sallah and Easter break.

    The report on the four bills were on Tuesday laid before the Senate by the Chairman of the Senate Committee on Finance, Mohammed Sani Musa (APC-Niger East).

    Akpabio urged the committee to distribute copies of the report to all senators to enable them to study it and be able to make informed contributions during the consideration.

    Meanwhile, the Senate President has charged lawmakers to renew their commitment to tackling worsening insecurity and growing economic hardship in the country.

    In his welcome address on resumption of plenary, he urged fellow lawmakers to approach their duties with integrity, unity, and a sense of urgency as Nigerians grapple with deepening hunger and insecurity.

    He highlighted key national challenges—rising living costs, instability in the energy sector, and escalating insecurity—as areas needing immediate legislative attention, while describing the violent conflicts in the South-East and North-West, herder-farmer clashes in the North-Central, and environmental degradation in the South-South as “the bleeding wounds of the republic.”

    Akpabio noted that the recent legislative recess coincided with Easter and Eid-el-Fitr, a period he said should inspire the values of sacrifice and discipline in public service.

    “The burdens on our shoulders are enormous, and no season better prepares the soul to carry such burdens than the one we’ve just passed through,” he said.

    He reiterated the National Assembly’s support for President Bola Ahmed Tinubu’s administration, pledging to enact laws and strengthen oversight to back Executive efforts in stabilising the country.

    On the national conversation around electoral and judicial reforms, Akpabio acknowledged citizens’ growing demand for institutional accountability and called on his colleagues to respond with courage and diligence.

    “The people are watching. The world is watching. Our constituents are watching. And history—silent but unsleeping-is—is watching,” he said.

    The Senate’s legislative agenda, he said, included bills focused on security sector reform, economic recovery, education, technology, and youth empowerment.

    Akpabio also emphasised the need for rigorous oversight of Ministries, Departments, and Agencies (MDAs) to ensure efficiency and transparency.

    While reassuring Nigerians of the Senate’s commitment, he said, “Your Senate is back at work. And we have not forgotten your hopes, your hardships, or your hunger for change.”