Tinubu Urges Senate To Deliver Workable Tax Reform Laws As Stakeholders Back Proposed Bills
President Bola Tinubu has called on the Senate to ensure that the proposed tax reform bills result in workable and effective laws, as key stakeholders voiced strong support for the reforms during a public hearing in Abuja on Monday.
The public hearing, organized by the Senate Committee on Finance, addressed concerns surrounding the Nigeria Tax Bill 2024, Nigerian Tax Administration Bill 2024, Nigeria Revenue Service Establishment Bill 2024, and the Joint Revenue Board Bill 2024.
Chairman of the Senate Committee on Finance, Senator Sani Musa (Niger East), revealed that he met with President Tinubu two days prior to the hearing, where the President reaffirmed his commitment to comprehensive tax reforms.
“President Tinubu told me, ‘Go and do the needful. Give me a law that is workable from the tax reform bills I forwarded to the Senate and the House of Representatives in October last year.’”
Senator Musa emphasized that the proposed laws were not designed to burden any section of the country, nor to favor one region over another.
Despite initial opposition from various groups last year, the hearing saw broad support from key economic and financial institutions.
Finance Minister Wale Edun clarified that the reforms aim to modernize outdated tax laws, ensuring efficiency and economic growth.
NNPCL Group CEO, Mele Kyari, described the reforms as critical to Nigeria’s economic expansion, stating that the oil and gas industry fully supports the measures.
RMAFC Chairman, Mohammed Shehu, reversed his earlier stance and backed the bills 100%, advocating for adjustments to VAT distribution.
Fiscal Responsibility Commission Chairman, Victor Muruako, highlighted that the reforms align with the Fiscal Responsibility Act of 2007.
The Arewa Think Tank, represented by Muhammad Alhaji Yakubu, and the Supreme Council for Sharia in Nigeria, Professor Mohammed Bello Dogarawa, also dismissed claims that Northern Nigeria opposed the reforms.
“It is not true that the North is against the tax reform bills. We have seen the benefits and sensitized our people in the North on them,” Yakubu stated.
Declaring the hearing open, Senate President Godswill Akpabio emphasized the need for a unified approach to revenue generation across federal, state, and local governments.
“The challenge before us transcends passing new laws; it is about constructing a tax system that inspires confidence, promotes development, and fuels national growth,” Akpabio stated.
The public hearing will continue on Tuesday, with additional remarks expected from:
Federal Inland Revenue Service (FIRS) Chairman, Zacch Adedeji
Central Bank of Nigeria (CBN) Governor, Yemi Cardoso
Comptroller-Generals of Nigeria Customs Service and Nigeria Immigration Service
The outcome of these deliberations is expected to shape Nigeria’s future tax system, ensuring that Tinubu’s administration delivers a reform that fosters growth and economic prosperity.
