The Senate has passed two out of four major tax reform bills submitted by President Bola Ahmed Tinubu in October 2024. This marks significant progress in the ongoing effort to revamp Nigeria’s tax administration system.
Following a detailed clause-by-clause review in the Committee of the Whole and subsequent third readings, the Senate passed a bill to repeal the Federal Inland Revenue Service (Establishment) Act and another to establish the Joint Revenue Board (Establishment) Bill 2025, alongside the Nigeria Revenue Service Bill 2025.
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Senate President Godswill Akpabio lauded this achievement, expressing his confidence that these reform bills would significantly improve governance and transform the collection and distribution of taxes nationwide.
“These bills will add immense value to governance and transform how taxes are collected and shared in Nigeria,” he stated.
Akpabio also assured that the remaining two tax reform bills would be finalized by tomorrow (Thursday), even if it requires the Senate to extend its sitting hours.
“We are committed to concluding the outstanding bills tomorrow, even if we have to stay here until 10 p.m.,” he affirmed.
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