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House of Reps to Debate Tax Reform Bills

House of Representatives to Debate President Tinubu's Tax Reform Bills

paulcraft by paulcraft
December 1, 2024
in National
Reading Time: 2 mins read
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Tax reform bill
  • The House of Representatives is set to debate four tax reform bills proposed by President Bola Tinubu, aiming to enhance fiscal policies
  • Deputy Spokesman Philip Agbese emphasized that the reforms will boost Nigeria’s economy by increasing revenue, developing infrastructure, and creating jobs

The House of Representatives is set to debate four tax reform bills proposed by President Bola Tinubu. The House’s Deputy Spokesman, Philip Agbese, disclosed this during a briefing with journalists in Abuja on Saturday.

Agbese confirmed that lawmakers had thoroughly reviewed the bills before the planned deliberations. The proposed legislation includes the Nigeria Tax Bill 2024, Tax Administration Bill, Nigeria Revenue Service Establishment Bill, and Joint Revenue Board Establishment Bill. These bills aim to create a unified fiscal framework for taxes in the country and minimize disputes in tax administration.

Praising the Executive Chairman of the Federal Inland Revenue Service (FIRS), Zacchaeus Adedeji, for his role in driving the reforms, Agbese stated that the legislation is designed to boost Nigeria’s fiscal policies and economic growth.

“Nigerians will soon appreciate these reforms,” he said. “When these bills are passed, and the Federal Government has more revenue, critical infrastructure will be developed, jobs will be created, and poverty will be significantly reduced.”

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Agbese revealed that debates on the bills are scheduled to begin on Tuesday and are expected to generate robust discussions. He also noted a growing shift in perspective among lawmakers, with initial opposition giving way to support for the reforms.

“When we reconvene, we expect even more support. However, this isn’t just about lawmakers—it’s about all Nigerians, from corporate executives to rural farmers. Public policy impacts everyone,” he added.

If passed, the proposed reforms aim to provide a foundation for a more effective and equitable tax system that supports economic development across the country.

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