These bills, submitted by President Bola Tinubu in 2024, have passed second reading in both legislative chambers and are now open for public input.
By Deborah Hassan
365Daily – The Senate Committee on Finance will conduct a two-day public hearing on four major tax reform bills aimed at strengthening Nigeria’s revenue generation and tax administration.
Chairman of the committee, Senator Sani Musa, announced this after a closed-door meeting with the Ministry of Finance Incorporated (MOFI) at the National Assembly on Wednesday, February 19, 2025.
Musa confirmed that the hearing, scheduled for Monday, February 24, and Tuesday, February 25, will focus on the Joint Revenue Board Establishment Fund Bill, Nigerian Revenue Services Bill, Nigerian Tax Administration Bill, and Nigerian Tax Bills.
These bills, submitted by President Bola Tinubu in 2024, have passed second reading in both legislative chambers and are now open for public input.
He emphasised hat the reforms are designed to enhance tax collection, improve transparency, and boost government revenue to fund infrastructure, education, and other key sectors.
To ensure broad participation, key stakeholders—including the Ministry of Finance, Coordinating Minister of the Economy, Federal Ministry of Trade and Investment, Attorney General of the Federation, Minister of Petroleum, Federal Inland Revenue Service (FIRS) Chairman, and Statistician General of the Federation—have been invited.
Musa underscored the importance of data-driven insights from the National Bureau of Statistics (NBS) to guide decision-making, reaffirming the Senate’s commitment to legislation that fosters long-term economic growth.
“The Senate is focused on creating an efficient, transparent tax system that benefits national development. These reforms will help position Nigeria as a leader in Africa’s economic advancement,” he said.
He also assured that the legislative process will remain independent, with lawmakers prioritising ional economic interests.