President Bola Tinubu has called on the Nigerian Senate to deliver workable tax reform laws, four months after forwarding four key tax reform bills to the National Assembly. The appeal came during a public hearing organized by the Senate Committee on Finance, where stakeholders rallied behind the previously contentious proposals.
The Tax Reform Bills
The four bills under consideration are:
The Nigeria Tax Bill 2024
Nigerian Tax Administration Bill 2024
Nigeria Revenue Service Establishment Bill 2024
Joint Revenue Board Bill 2024
These bills aim to modernize Nigeria’s tax system, enhance efficiency, and promote economic growth.
Tinubu’s Direct Appeal
Senator Sani Musa, Chairman of the Senate Committee on Finance, revealed that President Tinubu had personally requested workable laws from the proposed bills.
“I met President Bola Ahmed Tinubu two days ago, and he told me, ‘Mr. Chairman, Senate Committee on Finance, go and do the needful. Give me a law that is workable from the tax reform bills I forwarded to the Senate and House of Representatives in October last year,’” Musa stated.
Stakeholders Rally Behind the Bills
The public hearing saw widespread support for the tax reforms, with key stakeholders endorsing the proposals:
Wale Edun, Minister of Finance: Emphasized that the bills aim to encourage prosperity, not tax poverty.
Mele Kyari, NNPC Group CEO: Described the reforms as crucial for economic growth and efficiency.
Mohammed Shehu, RMAFC Chairman: Initially opposed, but now fully supports the bills with recommendations for VAT adjustments.
Victor Muruako, Fiscal Responsibility Commission Chairman: Aligned the reforms with the Fiscal Responsibility Act 2007.
Dispelling Regional Opposition
Claims that the northern region opposed the bills were debunked by Muhammad Alhaji Yakubu of the Arewa Think Tank and Professor Mohammed Bello Dogarawa of the Supreme Council for Sharia in Nigeria.
“It is untrue that the North opposes the tax reform bills. We have assessed their benefits and have sensitized our people accordingly,” Yakubu stated.
Senate President’s Call for Unity
Senate President Godswill Akpabio emphasized the importance of a unified approach to tax reform.
“We must come together—Federal, State, and Local Governments, alongside the private sector and civil society—to create a tax system that truly works for all,” Akpabio said.
What’s Next?
The public hearing continues on Tuesday, with key stakeholders like the Executive Chairman of the Federal Inland Revenue Service (FIRS), the Governor of the Central Bank of Nigeria (CBN), and the Comptroller-Generals of the Nigeria Customs Service and Nigeria Immigration Service expected to present their remarks.
A Turning Point for Nigeria’s Economy
The tax reform bills represent a critical step toward modernizing Nigeria’s tax system and driving economic growth. With widespread stakeholder support and a clear directive from President Tinubu, the Senate is under pressure to deliver workable laws that will benefit all Nigerians.
