The Nigeria Customs Service (NCS) has raised concerns over conflicts between the proposed Nigeria Tax Bill 2024 and the existing Customs Act 2023, urging lawmakers to address inconsistencies before finalizing the legislation.
Speaking at a public hearing organized by the National Assembly, NCS Comptroller-General Adewale Adeniyi flagged clauses 78, 79, 141(1), and 143 as conflicting with the Customs Act, warning that revising tax laws too soon could disrupt ongoing revenue growth.
“We have seen a 97% revenue increase since modernizing our tax laws,” Adeniyi said. “It is too early to repeal an Act that is already delivering results.”
Meanwhile, the Senate Committee on Finance, chaired by Senator Sani Musa, reaffirmed its commitment to crafting a tax law that aligns with President Bola Tinubu’s $1 trillion economy vision. Musa assured Nigerians that the revised bill would be workable, constitutionally sound, and beneficial for all states.
“We are consulting extensively—including with the Attorney-General’s Office and economic experts—to ensure this law stands the test of time,” Musa stated.
The Federal Inland Revenue Service (FIRS) Chairman, Zacch Adedeji, lauded widespread stakeholder support for the reform, emphasizing that the bill would transform Nigeria’s economic landscape.
Amid concerns that the legislation might disadvantage northern states, Senator Abdul Ningi clarified that initial objections came from governors, not regional bias. He credited governors like Babagana Zulum and Bala Mohammed for pushing negotiations that led to a more inclusive tax framework.
With the Senate set for a three-day retreat to refine the bill, all eyes are on lawmakers to produce a balanced and future-proof tax regime.
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