The Senate has launched a two-day public hearing on proposed tax reform bills, bringing together top economic and financial leaders to modernize Nigeria’s tax system.
Senate Finance Committee Chair, Senator Sani Musa, pledged a transparent process aimed at fairness, inclusivity, and efficiency in taxation. He urged active participation, stressing that collective input is key to economic growth.
Attendees include Finance Minister Wale Edun, FIRS Chairman Zacch Adedeji, NNPCL Group CEO Mele Kyari, and Customs Comptroller General Adewale Adeniyi.
Four months after submitting tax reform bills to the National Assembly, President Bola Tinubu has called on the Senate to deliver practical legislation. The bills under review include the Nigeria Tax Bill 2024, Nigerian Tax Administration Bill 2024, Nigeria Revenue Service Establishment Bill 2024, and Joint Revenue Board Bill 2024.
Tax reform remains a hot-button issue in Nigeria, with debates over its economic impact. In July, President Tinubu established a Presidential Committee on Fiscal Policy and Tax Reforms to enhance business operations and revenue generation.
Meanwhile, the Presidency dismissed concerns that the reforms favor only Lagos and Rivers States, assuring Nigerians that the changes aim to streamline taxation and boost national prosperity.
About the Author
