The Senate officially begun deliberations on the Tax Reform Bills presented by President Bola Tinubu in October 2024.
Prior to the debate, lawmakers held a closed-door session for approximately one hour.
Upon resuming, Senate Leader Opeyemi Bamidele (APC, Ekiti Central) led the discussion on the bills.
The four bills under consideration include the Nigeria Tax Bill 2024, which aims to establish a fiscal framework for taxation in the country, and the Tax Administration Bill, designed to provide a legal framework for taxes and reduce disputes.
Also on the table is the Nigeria Revenue Service Establishment Bill, which seeks to repeal the Federal Inland Revenue Service Act and create the Nigeria Revenue Service, as well as the Joint Revenue Board Establishment Bill, which will establish a tax tribunal and ombudsman.
PUNCH Online reports that key members of the president’s economic team, including Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms; Zacchaeus Adedeji, Chairman of the Federal Inland Revenue Tax; and Tanimu Yakubu, Director-General of the Budget Office, were invited to the plenary to provide detailed explanations of the bills to the lawmakers.
