The Nigerian Senate has commenced deliberations on the four Tax Reform Bills proposed by President Bola Tinubu in October 2024. The session, led by Senate Leader Opeyemi Bamidele (APC, Ekiti Central), followed an hour-long closed-door meeting.
The bills under review include the Nigeria Tax Bill 2024, which seeks to establish a fiscal framework for taxation, and the Tax Administration Bill, aimed at creating a legal framework to streamline tax operations and reduce disputes.
Other bills in the package are the Nigeria Revenue Service Establishment Bill, which will replace the Federal Inland Revenue Service Act with a new structure, and the Joint Revenue Board Establishment Bill, designed to introduce a tax tribunal and a tax ombudsman.
President Tinubu’s economic team, comprising Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms; Zacchaeus Adedeji, Chairman of the Federal Inland Revenue Service; and Tanimu Yakubu, Director-General of the Budget Office, were present to clarify the objectives and provisions of the bills to the lawmakers.
The reforms are expected to address inefficiencies in Nigeria’s tax system and boost revenue generation while providing a clearer framework for tax administration nationwide.
