The Nigerian House of Representatives has approved a series of tax reform bills, marking a significant step in the country’s fiscal policy overhaul. The legislative package, which includes the Nigeria Tax Bill, the Tax Administration Bill, the Joint Revenue Board Establishment Bill, and the Nigeria Revenue Service Bill, has been a subject of national debate since its introduction by President Bola Tinubu in October last year.
Last Thursday, the House formally adopted the recommendations of its Finance Committee following the presentation of a report by Committee Chairman, James Faleke, during plenary. The bills, initially met with public apprehension, secured broad stakeholder support after extensive consultations and dialogue.
During the clause-by-clause review, Speaker of the House, Dr. Tajudeen Abbas, commended the Finance Committee for its diligence. He further noted that the bills’ passage reflected the collective aspirations of Nigerians.
With the House’s approval, attention now shifts to the Senate, which is expected to deliberate and pass the bills. Once both chambers reach a consensus, the harmonized version will be sent to President Tinubu for assent, paving the way for potential tax reforms that could reshape Nigeria’s revenue landscape.
