The Senate has approved two out of four major tax reform bills, marking a significant milestone in the ongoing overhaul of the nation’s tax administration framework.
The two bills—one aimed at repealing the Federal Inland Revenue Service (Establishment) Act and the other to establish both the Joint Revenue Board (Establishment) Bill 2025 and the Nigeria Revenue Service Bill 2025—were passed after a clause-by-clause review during the Committee of the Whole and a subsequent third reading on the Senate floor.
In October 2024, President Bola Ahmed Tinubu submitted the four tax reform bills to the National Assembly for consideration and passage.
Senate President Godswill Akpabio lauded the progress and expressed confidence that the reforms would enhance governance and transform the system of tax collection and allocation across the country.
“These bills will add immense value to governance and transform how taxes are collected and shared in Nigeria,” he stated.
He further assured that the remaining two bills would be finalised on Thursday, even if extended sitting hours were required.
“We are committed to concluding the outstanding bills tomorrow, even if we have to remain here until 10 p.m.,” Akpabio said.