House of Representatives has passed the long-anticipated tax reform bills, marking a major milestone in Nigeria’s fiscal policy overhaul.
The bills, which include the Nigeria Tax Bill, the Tax Administration Bill, the Joint Revenue Board Establishment Bill, and the Nigeria Revenue Service Bill, have been a subject of national debate since President Bola Tinubu submitted them to the National Assembly in October last year.
Last Thursday, the House adopted the recommendations of its Finance Committee, following the presentation of reports by Chairman James Faleke during plenary. While the bills initially sparked controversy and apprehension, extensive consultations and dialogue with stakeholders ultimately secured broad support.
During the clause-by-clause consideration, Speaker of the House Dr. Tajudeen Abbas commended the Finance Committee’s diligent work, describing the passage of the bills as a true reflection of Nigerians’ interests.
With the Green Chamber’s approval, attention now shifts to the Senate, which is expected to consider and pass the bills before forwarding the harmonized version to President Tinubu for assent.
