Senate Approves Two Major Tax Reform Bills, Vows to Conclude Remaining Today
The Senate has passed two of four major tax reform bills, marking a significant step in the ongoing overhaul of Nigeria’s tax administration framework.
The two bills include one that seeks 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. They were approved after a clause-by-clause review during the Committee of the Whole, followed by a third reading on the Senate floor.
RELATED STORY: Senate Begins Consideration of Tax Reform Bills Today
President Bola Ahmed Tinubu had transmitted all four bills to the National Assembly in October 2024 for consideration and passage.
Senate President Godswill Akpabio praised the progress made, expressing optimism that the reforms would not only strengthen governance but also revolutionise tax collection and distribution across the country.
“These bills will add immense value to governance and transform how taxes are collected and shared in Nigeria,” Akpabio stated.
He further assured that the two remaining bills would be finalised on Thursday, even if it required extended sitting hours.
“We are committed to concluding the outstanding bills tomorrow, even if we have to sit until 10 p.m.,” he said.
