The Senate has established a committee to review the controversial Tax Reform Bills currently before the National Assembly.
The committee, chaired by Minority Leader Senator Abba Moro (PDP, Benue South), is tasked with engaging the Attorney General of the Federation, Lateef Fagbemi, to address contentious aspects of the bills. The committee is expected to report its findings to the Senate before proceeding to a public hearing.
Deputy Senate President Barau Jibrin, who presided over Wednesday’s plenary session, announced the development. He noted that the executive branch of government had agreed with the Senate on the need to resolve issues causing disagreements in the proposed legislation.
Barau stated, “We decided to set aside politics, ethnicity, and regionalism to collaboratively find a way forward on the tax reform bills. We extended this approach to the executive arm of government, resulting in an agreement to establish a forum to address contentious areas and promote unity in solving the nation’s problems.
“Before these bills were introduced, the country faced challenges such as insecurity, which both the President and we have been working to address, as well as economic issues linked to global trends. We must ensure these bills do not exacerbate the nation’s difficulties.
“Therefore, it was agreed that a forum involving the Attorney General would be convened to resolve the areas of disagreement. Consequently, the Senate Committee on Finance, to which the bills were referred, will pause further actions, including public hearings, until these issues are resolved.”
President Bola Ahmed Tinubu had forwarded four tax reform bills to the National Assembly on October 3, 2024.
The bills have sparked significant controversy, particularly in the Northern region, leading the National Economic Council to advise the President to withdraw them for further consultations. However, President Tinubu insisted on allowing the bills to undergo the full legislative process.
Last week, the bills passed second reading in the Senate through voice votes.
The proposed legislation aims to harmonize, coordinate, and resolve disputes related to revenue administration in Nigeria.