Senate to Pass Tax Reform Bills Today

The Senate will commence consideration and possible passage of the controversial Tax Reform Bills on Wednesday, months after their introduction by President Bola Tinubu.

Senate President Godswill Akpabio announced this during Tuesday’s plenary, following the presentation of the bills’ report by Senator Sani Musa, Chairman of the Senate Committee on Finance.

Akpabio directed the committee to distribute copies of the report to all senators for thorough review, enabling informed contributions during deliberations.

The bills, including the Nigeria Tax Bill 2024, Nigeria Tax Administration Bill 2024, Nigeria Revenue Service (Establishment) Bill 2024, and Joint Revenue Board (Establishment) Bill 2024, aim to overhaul Nigeria’s tax system.

In his welcome address, Akpabio urged lawmakers to tackle Nigeria’s escalating insecurity and economic hardship with urgency.

He described violent conflicts in the South-East and North-West, herder-farmer clashes in the North-Central, and environmental degradation in the South-South as “the bleeding wounds of the republic.”

He highlighted rising living costs, energy sector instability, and insecurity as priorities, noting that the recent Easter and Eid-el-Fitr recess should inspire sacrifice and discipline in public service.

“The burdens on our shoulders are enormous, and no season better prepares the soul to carry such burdens than the one we’ve just passed through,” he said.

Akpabio reaffirmed the Senate’s support for President Tinubu’s administration, pledging robust legislation and oversight to stabilise the nation.

He also addressed calls for electoral and judicial reforms, urging senators to respond with courage to citizens’ demands for accountability.