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On Wednesday, the Senate announced the formation of a committee charged with reviewing the highly debated Tax Reform Bills that have stirred controversy in the National Assembly. The decision comes as lawmakers recognize the need for a more in-depth analysis of the proposed reforms, which have sparked intense discussions over their potential effects on various sectors of society.
The committee’s work is expected to influence the trajectory of these bills as they continue to make their way through the legislative process.
Senator Abba Moro, the Minority Leader from Benue South, will guide the committee in a crucial session with the Attorney General of the Federation, Lateef Fagbemi, as they work to resolve outstanding ambiguities in the Tax Reform Bills. This discussion is expected to be a key step in refining the bills, after which the committee will report back to the Senate ahead of the anticipated public hearing, ensuring a more informed and well-rounded debate.
In Wednesday’s plenary, Deputy Senate President Barau Jibrin confirmed that the executive has come to an agreement with the Senate regarding the Tax Reform Bills. Barau, who was overseeing the session, pointed out that both the Senate and the executive recognize the critical need to resolve the outstanding issues that have caused divisions in the bills before any further progress can be made.
Barau said, “We decided to put politics, ethnicity, regionalism aside to sit among ourselves in order to find a way forward in respect to issues affecting the tax reform bills. It is on this note that we extended our view to the executive arm of government, and it was agreed that there should be a forum to sit down to look at the areas that are creating disagreements in order to resolve them so that the entire country will remain united in our efforts to solve our problems.
“Before the introduction of these bills, we know we have been faced with several problems; insecurity that we and the president have been trying to solve, issues about our economy which is in line with global economic problems. And we also agreed that we shouldn’t allow any other to come in to aggravate the problems of our country.
“It is on this note that it has been agreed by the executive and by us that there should be a forum that should sit with the Attorney General of the Federation so that we can sit and look at all the areas of disagreement and resolve them for the interest of this nation.
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“It is therefore proposed that tomorrow there will be a meeting with the committee that will be set here to sit down with the Attorney General to look at those issues and resolve them. It is on this note that the Committee on Finance that the bills have been referred to halt action with public hearing and other issues until we resolve those issues.”
When President Bola Ahmed Tinubu sent four tax reform bills to the National Assembly on October 3, 2024, he set in motion a heated national debate. While the bills are designed to modernize the nation’s tax framework, they have encountered significant pushback, particularly from the northern regions, where there are fears that the proposed changes could disproportionately affect their interests.
Following the controversies the bills have generated, the National Economic Council had advised President Bola Tinubu to withdrawal the bills to allow for further consultations, but he had refused and said that the bills should go through the necessary legislative processes.
Last week, the bills were passed at the Senate for second reading through voice votes.
The proposed legislation seeks to harmonize, coordinate, and resolve disputes arising from revenue administration in Nigeria.
