The Senate has approved all four executive tax reform bills submitted by President Bola Tinubu, marking a significant milestone in his administration’s economic agenda.
The remaining two, the Nigeria Tax Bill 2024 and the Joint Revenue Board Establishment Bill, scaled through on Thursday, May 8 during plenary.
On Wednesday, May 7, lawmakers passed the Nigeria Revenue Service Establishment Bill and the Tax Administration Bill.
Senators considered and adopted the bills at the committee of the whole before Senate President Godswill Akpabio formally announced their passage.
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Akpabio said, “The Senate will now set up a conference committee to harmonise our versions with those of the House of Representatives.”
Once harmonised, the consolidated bills will be forwarded to the president for assent.
The four bills are intended to modernise the country’s tax framework, enhance efficiency in revenue collection, and support Tinubu’s economic reforms under the Renewed Hope Initiative.