The Nigerian Senate is set to hold a public hearing on President Ahmed Bola Tinubu’s contentious tax reform bills, which have sparked significant debate, particularly in northern Nigeria. The session aims to scrutinize the bills with input from key stakeholders, including tax industry experts, civil society organizations, corporate bodies, and other relevant parties.
The reform package, comprising the Nigeria Tax Bill 2024, Nigeria Tax Administration Bill 2024, Nigeria Revenue Service (Establishment) Bill 2024, and Joint Revenue Board (Establishment) Bill 2024, has already passed the second reading in the Senate amidst controversy.
Chairman of the Adhoc Committee on the tax reforms, Senator Abba Moro, revealed in a press briefing that extensive consultations were held during a closed-door meeting. Present were key officials, including: Attorney-General of the Federation, Lateef Fagbemi, SAN, Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, and Chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Dr. Mohammed Bello Shehu.
Senator Moro emphasized that agreements had been reached to harmonize perspectives and ensure the final legislation aligns with the aspirations of Nigerians.
“We have agreed that the entire process must be synthesized to deliver a law that serves the purpose of all Nigerians,” Moro stated, highlighting the committee’s commitment to transparency and inclusivity.
Zacch Adedeji, the FIRS Chairman, confirmed that contentious aspects of the bills had been resolved. He expressed optimism about the smooth passage of the proposed laws.
“All identified issues have been clarified and resolved. Everyone, including lawmakers and stakeholders, agrees on the urgency and importance of these reforms,” Adedeji noted. He added that no further meetings would be required, as the framework of the proposed laws has received widespread endorsement.
The tax reform bills, described by the government as crucial for economic revitalization and fiscal efficiency, are now set for evaluation during the public hearing. The outcomes will guide the Senate’s Committee of the Whole in preparing the final report.
The hearing is expected to provide an avenue for robust discussions on the merits and drawbacks of the proposed legislation, ensuring a comprehensive evaluation before the bills are passed into law. Stay tuned for updates as this pivotal process unfolds.
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