The Nigerian Senate is set to conduct public hearings on 24th and 25th February regarding four critical tax reform bills. The hearings aim to gather input from stakeholders on the proposed legislation, which seeks to overhaul Nigeria’s tax system.
Chairman of the Senate Committee on Finance, Senator Sani Musa, disclosed this development after a closed-door session with various government agencies. The bills under consideration include:
- The Joint Revenue Board Establishment Fund Bill
- The Nigerian Revenue Services Bill
- The Nigerian Tax Administration Bill
- The Additional Nigerian Tax Bills
Both houses of the National Assembly have completed the second reading of these bills, paving the way for public engagement. Senator Musa explained that the legislation aims to align Nigeria with advanced economies by ensuring adequate funding across various sectors.
The public hearings will provide a platform for stakeholders, including civil society organizations, tax officials, and other interested parties, to express their views and concerns about the proposed changes.
The bills, sent to the National Assembly by President Bola Tinubu in October 2024, have faced opposition, particularly from northern caucuses, who have raised concerns about their potential impact on the region.
