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The Nigerian Senate will hold a public hearing on tax reform bills on Monday and Tuesday to overhaul the tax system
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The hearings, involving 71 stakeholders, aim to improve revenue and address concerns regarding the Joint Revenue Board and Tax Administration Bills
The Nigerian Senate will hold public hearings on tax reform bills next Monday and Tuesday. These hearings will gather stakeholders’ input on proposed laws to restructure the nation’s tax system and drive economic growth.
Senator Sani Musa, Chairman of the Senate Committee on Finance, announced this Wednesday during a press briefing in Abuja. He stated that the hearings follow extensive consultations and focus on four key bills.
On Monday, discussions will cover the Joint Revenue Board Establishment Bill and the Nigerian Revenue Services Bill. The Nigerian Tax Administration Bill and the Nigerian Tax Bill will be addressed on Tuesday.
“The committee has invited 71 stakeholder groups for this crucial public hearing,” Musa said. “Both chambers of the National Assembly have completed the second reading of these reform bills and are prepared for the next stage.”
He emphasized that the bills seek to enhance tax collection, administration, and overall efficiency in the system.
“The goal is to boost government revenue and strengthen key sectors like infrastructure, education, and agriculture, which are vital to economic growth,” he explained.
Key government officials expected at the hearings include Finance Minister and Coordinating Minister of the Economy Wale Edun; Attorney General of the Federation Lateef Fagbemi (SAN); Federal Inland Revenue Service Chairman Zacch Adedeji; Statistician-General and National Bureau of Statistics CEO Prince Adeyemi Adeniran; and the Ministers of Petroleum and Trade and Investment.
Senator Musa expressed confidence in the process, stating that the committee has already engaged with various stakeholders. “We expect a smooth public hearing. Any unclear areas will be addressed during the discussions,” he assured.
He also reaffirmed President Bola Tinubu’s stance on legislative independence. “The President has repeatedly stated that he will not interfere. Our responsibility as lawmakers is to act in the nation’s best interest,” Musa added.
The committee remains committed to drafting laws supporting Nigeria’s economic progress. “Regardless of our diverse backgrounds, we are all Nigerians.
We focus on creating legislation that puts the country on a strong economic path,” he stated.
The committee met with the Ministry of Finance Incorporated (MOFI), led by Managing Director Dr. Armstrong Tokang. Lawmakers directed MOFI to provide a national assets register to aid in the legislative process.
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