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The Nigerian Senate, on Wednesday, passed two of President Bola Tinubu’s four tax reform bills.
The two bills approved are the Nigeria Revenue Service (Establishment) Bill and the Joint Revenue Board (Establishment) Bill.
This development follows the Senate’s consideration of the report submitted by an ad hoc committee chaired by Senator Sani Musa, representing Niger East.
Each clause of the bills was thoroughly debated and reviewed at the Committee of the Whole.
Following majority support expressed through a voice vote, the Senate President, Godswill Akpabio, formally announced the passage of the bills.
“These bills will add immense value to governance and transform how taxes are collected and distributed in Nigeria,” Akpabio stated.
He further remarked that the remaining two bills would be concluded on Thursday, even if this necessitated extended sitting hours.
“We are committed to concluding the outstanding bills tomorrow, even if we have to remain here until 10 pm,” Akpabio said.
Additionally, the upper chamber rejected a proposal to increase the Value Added Tax to 10 per cent, opting instead to maintain the current rate of 7.5 per cent.
The two remaining bills scheduled for consideration and passage on Thursday are the Nigeria Tax Administration Bill and the Nigeria Tax Bill.
In other news, the leadership of Nigeria’s 10th Senate has deferred the passage of President Bola Tinubu’s long-awaited tax reform bills until Wednesday, citing the need for more thorough examination and robust debate.
The four bills—Nigerian Tax Bill, Tax Administration Bill, Revenue Tax Board Bill, and Nigerian Revenue Service Establishment Bill—were submitted by the President six months ago as a central component of his administration’s strategy to overhaul fiscal policy and enhance government revenue. However, the delay in Senate action, especially following the House of Representatives’ approval two weeks earlier, has sparked growing concern and intensified pressure on the upper chamber to act.
In a parallel development, the Senate has also agreed to convene a two-day national security summit aimed at addressing the escalating crisis of violence and insecurity across the country. The resolution was adopted following a motion introduced by Senator Jimoh Ibrahim, who represents Ondo South, during Tuesday’s resumption of plenary.
While on a working visit to France, bandits in a senseless campaign of violence killed innocent Nigerians in Plateau, Benue and Zamfara States, culminating in calls for President Bola Tinubu to cut short his vacation to return home to lead the fight against insecurity from the front.
