Friday, May 9, 2025 - The Nigerian Senate, on Wednesday, passed two of President Bola Tinubu’s four tax reform bills.
The two bills approved are the Nigeria Revenue Service
(Establishment) Bill and the Joint Revenue Board (Establishment) Bill.
This development follows the Senate’s consideration of the
report submitted by an ad hoc committee chaired by Senator Sani Musa,
representing Niger East.
Each clause of the bills was thoroughly debated and reviewed
at the Committee of the Whole.
Following majority support expressed through a voice vote,
the Senate President, Godswill Akpabio, formally announced the passage of the
bills.
“These bills will add immense value to governance and
transform how taxes are collected and distributed in Nigeria,” Akpabio stated.
He further remarked that the remaining two bills would be
concluded on Thursday, even if this necessitated extended sitting hours.
“We are committed to concluding the outstanding bills
tomorrow, even if we have to remain here until 10 pm,” Akpabio said.
Additionally, the upper chamber rejected a proposal to
increase the Value Added Tax to 10 per cent, opting instead to maintain the
current rate of 7.5 per cent.
The two remaining bills scheduled for consideration and
passage on Thursday are the Nigeria Tax Administration Bill and the Nigeria Tax
Bill.
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