Wednesday, June 18, 2025 - The National Assembly has officially transmitted the much-anticipated tax reform bills to President Bola Ahmed Tinubu for assent.
This was confirmed by Senator Yemi Adaramodu (APC, Ekiti
South), Chairman of the Senate Committee on Media and Public Affairs, during a
press conference in Abuja.
President Tinubu had initially forwarded four tax reform
bills to the National Assembly in 2024 for legislative consideration. The
bills, aimed at overhauling Nigeria’s tax system, sparked extensive debate
across both legislative chambers before eventually being passed. A harmonised
version of the bills was adopted by both chambers on May 25, 2025, paving the
way for transmission to the executive branch.
“Yes, the bill has now been transmitted. It is out of our
hands and on its way to the executive,” Senator Adaramodu stated.
He explained the delay in transmission, saying the process
involved thorough legal vetting to ensure compliance with existing laws. “Tax
bills like these require careful scrutiny. Legal departments in both chambers
must ensure they align with existing laws before we send them to the
Presidency,” he said.
Adaramodu added, “It’s not a matter of two or three days.
After harmonisation, the Clerk of the National Assembly prepares the final
document. Only then can the Senate President and the Speaker sign off for
transmission.”
The tax reform bills are expected to play a critical role in
improving government revenue and streamlining Nigeria’s complex tax regime once
signed into law by the president.
0 Comments