May 09, (THEWILL) – The Senate on Thursday passed the remaining two of the four Tax Reform Bills transmitted to the National Assembly by President Bola Tinubu on October 3, 2024.
The bills—the Nigeria Tax Bill 2024 and the Nigeria Tax Administration Bill 2024—are part of sweeping reforms recommended by the Presidential Committee on Fiscal Policy and Tax Reforms, led by Taiwo Oyedele, to overhaul the country’s tax system.
The Red Chamber had on Wednesday passed the Nigeria Revenue Service (Establishment) Bill 2024 and the Joint Revenue Board (Establishment) Bill 2024, after which Senate President Godswill Akpabio announced that the remaining two bills would be considered on the next legislative day.
Their passage followed the presentation and adoption of a report by the Senate Committee on Finance, chaired by Senator Musa Mohammed Sani (APC, Niger East), during Wednesday’s plenary presided over by Akpabio.
The House of Representatives had earlier passed the four bills at third reading in March 2025, shortly before adjourning for the Easter and Eid-el-Fitr holidays.
To reconcile differences between both chambers, the Senate on Thursday constituted a 15-member conference committee to harmonise its version of the bills with that of the House. Once aligned, the harmonised bills will be transmitted to President Tinubu for assent.
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