The Nigerian Senate has approved two out of four significant tax reform bills, representing a critical step in the ongoing restructuring of the country’s tax administration system.
The approved legislation includes the repeal of the Federal Inland Revenue Service (Establishment) Act and the introduction of the Joint Revenue Board (Establishment) Bill 2025, alongside the Nigeria Revenue Service Bill 2025.
The bills were passed after a detailed clause-by-clause review in the Committee of the Whole, followed by a third reading on the Senate floor.
These reforms were initiated following President Bola Ahmed Tinubu’s submission of the tax bills to the National Assembly in October 2024, aiming to modernize and streamline the nation’s tax framework.
Senate President Godswill Akpabio welcomed the development, describing the passage as a transformative moment for governance and tax management in Nigeria.
“These bills will add immense value to governance and transform how taxes are collected and shared in Nigeria,” he stated.
Akpabio also pledged that the remaining two bills would be concluded the following day, even if the Senate had to sit late into the evening.
“We are committed to concluding the outstanding bills tomorrow, even if we have to stay here until 10 p.m.,” he said.
What you should know
The Senate’s approval of two tax reform bills signals a major restructuring of Nigeria’s tax system.
Spearheaded by President Tinubu’s administration, the reforms aim to improve efficiency in tax collection and distribution, with the remaining bills expected to be finalized imminently.
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