Senate holds public hearing on Tinubu’s Tax Reform Bills
By Haruna Salami
The Senate has concluded arrangements for a two-day public hearing on four key tax reform bills aimed at restructuring Nigeria’s tax administration and boosting government revenue.
Senator Sani Musa, Chairman Senate Committee on Finance told journalists after the committee held a very crucial meeting with Ministry of Finance Incorporated (MOFI) on management of federal government’s assets and portfolios at the National Assembly on Wednesday.
Sani acknowledged MOFI’s efforts in implementing new economic reforms and noted areas for improvement, which the institution has pledged to address.
Following the briefing, the committee held a closed-door session, during which members unanimously agreed on key aspects of the upcoming public hearing on the all important Tax bills, scheduled for February 24 and 25, 2025.
Senator Musa said the hearing, which will be open to all stakeholders, will focus on Joint Revenue Board Establishment Reform Bill, Nigerian Revenue Services Bill, Nigerian Tax Administration Bill and the Nigerian Tax Bill
He emphasized that the reforms are designed to streamline tax collection, improve efficiency, and increase government revenue for infrastructure, education, and economic development.
“We are committed to ensuring a transparent and inclusive legislative process. This public hearing will provide an opportunity for stakeholders, including government agencies, business leaders, tax professionals, and civil society organizations, to contribute to shaping Nigeria’s tax future,” he said.
According to him, the Senate has extended invitations to key institutions, including, the Federal Ministry of Finance, Coordinating Minister of the Economy, Federal Inland Revenue Service (FIRS), Attorney General of the Federation, Ministry of Trade and Investment, National Bureau of Statistics (NBS), Religious and professional bodies among many others.
“These bills, submitted by President Bola Ahmed Tinubu in 2024, have successfully passed their second readings in both chambers of the National Assembly and are now set for public scrutiny.”
Senator Musa assured the public that all concerns will be addressed, stating that extensive consultations have already taken place with relevant stakeholders to ensure a smooth and effective tax reform process.
“This is a national assignment, and we want to hear from all Nigerians. The goal is to implement a tax system that works for businesses, individuals, and the government,” he added.
He indicated that the proposed tax reforms align with President Bola Ahmed Tinubu’s vision to strengthen Nigeria’s economy and enhance revenue generation without overburdening citizens.
“We believe these reforms will create a more efficient, transparent, and business-friendly tax system that will ultimately drive economic growth,” Senator Musa said.
“The public hearing will take place at the National Assembly, Abuja, and will be open to all interested parties. The Senate encourages submissions from individuals and organizations with insights on how best to improve the nation’s tax administration.
The committee has already held extensive consultations with government agencies, economic experts, and civil society groups to address concerns and refine the proposed legislation.
Senator Musa emphasized that the National Assembly remains independent in this process, adding that “President Tinubu has made it clear that he will not interfere. It is our duty as legislators to enact laws that will benefit the country economically,” he affirmed.
“With this announcement, the Senate is calling on Nigerians to actively engage in the process to ensure a fair, effective, and sustainable tax system for the country’s future, he concluded.
