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Senate Targets $1 Trillion Economy with New Tax Reform Bills

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The Chairman of the Senate Committee on Finance, Sen. Sani Musa, has pledged that the Senate will deliver impactful legislation from the proposed tax reform bills to help transform Nigeria into a trillion-dollar economy.

Speaking to journalists in Abuja on Tuesday, Musa revealed that President Bola Tinubu had tasked the National Assembly with the ambitious goal, emphasizing the need for a tax law that is both practical and widely accepted across the nation.

“We are going to give this country a piece of legislation that is workable,” Musa assured, noting that the committee will carefully review stakeholder inputs gathered during the recently concluded public hearing.

He further disclosed plans for a three-day retreat with experts to fine-tune the bills, alongside consultations with the Attorney-General of the Federation to ensure the reforms align with constitutional standards.

“Our focus is on creating a law acceptable to all Nigerians,” Musa stressed, highlighting the president’s vision of steering Nigeria towards a $1 trillion economy.

Backing the initiative, Sen. Abdul Ningi of Bauchi Central described the reforms as critical to Nigeria’s development, dismissing claims of regional bias.

“This tax reform has embraced a Nigerian dimension, not a north-south dichotomy,” Ningi affirmed.

Mike Ojo

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