President Bola Tinubu has called on the Senate to deliver functional tax reform laws, four months after forwarding key bills to the National Assembly for consideration.
Speaking through Senator Sani Musa (Niger East), Chairman of the Senate Committee on Finance, Tinubu emphasized the urgency of the matter. “Go and do the needful. Give me a law that is workable from the tax reform bills I forwarded to the Senate and House of Representatives in October last year,” he reportedly told Musa during a recent meeting.
The proposed bills—Nigeria Tax Bill 2024, Nigerian Tax Administration Bill 2024, Nigeria Revenue Service Establishment Bill 2024, and Joint Revenue Board Bill 2024—aim to overhaul the nation’s tax system to boost efficiency and economic growth.
At a public hearing held Monday by the Senate Committee on Finance, previously strong opposition to the bills softened as major stakeholders voiced their support.
Finance Minister Wale Edun clarified that the reforms are designed to “encourage prosperity, not tax poverty,” while NNPCL’s Group CEO Mele Kyari called the bills “a crucial enhancement for economic growth” and endorsed their implementation.
Even former critics, like RMAFC Chairman Mohammed Shehu, shifted their stance. Shehu, who had initially opposed the reforms, now backs them but suggested adjustments to the distribution of Value Added Tax (VAT) to sub-national governments.
The Arewa Think Tank, led by Muhammad Alhaji Yakubu, also dismissed claims that the northern region opposed the proposals. “It is untrue that the North opposes the tax reform bills. We have assessed their benefits and have sensitised our people accordingly,” Yakubu stated.
Senate President Godswill Akpabio, who opened the hearing, stressed the need for a unified approach to tax reform. “The challenge before us transcends merely passing new laws; it is about constructing a tax system that inspires confidence, promotes development, and fuels national growth,” he said.
More high-profile submissions are expected as the hearing continues Tuesday, with remarks from FIRS Chairman Zacch Adedeji, CBN Governor Yemi Cardoso, and the Comptroller-Generals of both the Nigeria Customs Service and Nigeria Immigration Service.
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