President Bola Tinubu’s proposed tax reform bills have advanced to the second reading stage in the House of Representatives following an extensive debate.
The four bills—the Joint Revenue Board of Nigeria (Establishment) Bill 2024, Nigeria Revenue Service (Establishment) Bill 2024, Nigeria Tax Administration Bill 2024, and Nigeria Tax Bill 2024—are designed to revamp Nigeria’s tax system.
Despite initial opposition, Tinubu submitted the bills to the National Assembly in 2024. However, the Majority Leader of the House, Julius Ihonvbere, assured lawmakers that concerns raised, particularly by the Nigerian Governors Forum (NGF), had been addressed.
Leading the debate on Wednesday, Ihonvbere stated: “The Nigerian Governors Forum, NGF, has resolved the issues.” He also noted that multiple meetings had been held with different caucuses to address their reservations.
Highlighting the potential benefits, he pointed out that the bills include tax exemptions for low-income earners.
After a debate lasting over four hours, Speaker Abbas Tajudeen put the bills to a vote, and they were passed for a second reading.
They were then referred to the House Committee on Finance for further legislative review.
The tax reform bills, drafted by the Presidential Committee on Tax Reforms and Fiscal Policy, aim to modernize Nigeria’s tax laws. However, they have faced strong opposition, particularly from northern governors, who have labeled them “anti-North.”
