NASS to Pass Tax Reform Bills by Tuesday
House Committee Chair James Faleke has confirmed that the harmonisation of the Tax Reform Bills has been completed, following an intensive review process by a joint Conference Committee made up of members from both the House of Representatives and the Senate.
Faleke, who led the House delegation, stated that the committee worked diligently over several days—through Thursday night, all of Friday, and into Saturday morning—meticulously reviewing all sections of the four executive tax reform bills.
He noted that all contentious issues were thoroughly addressed and resolved, making the bills ready for final presentation to both chambers of the National Assembly.
“I commend the efforts of the Conference Committee, which examined every clause and successfully reconciled all differences,” Faleke said.
“Special thanks go to Senator Sani Musa, Chairman of the Senate Committee on Finance, for his capable leadership, and to my colleagues on the House side for their unwavering dedication to serving the Nigerian people.”
The proposed tax reforms aim to overhaul Nigeria’s tax system, aligning it with global standards and modern practices.
The harmonised bills are now set for passage by both the House and Senate before being sent to President Bola Tinubu for assent.
Senate President Godswill Akpabio earlier praised lawmakers for their commitment to updating the country’s tax laws, describing the bills as essential tools for transforming the national tax framework.
Senator Sani Musa, who also serves as Chairman of the Ad Hoc Committee on Tax Reform, noted that the tax proceeds would support critical national needs.
These include combating cybercrime, strengthening defence infrastructure, supporting education through TETFund, and aiding military operations to restore peace and stability.
Musa also revealed that the reforms would introduce an ombudsman for tax-related issues and propose the creation of a tax tribunal.
Key areas of focus include value-added tax (VAT), development levies, tax collection structures, and the reintroduction of inheritance tax, which had previously been removed.
Expressing optimism, Musa said, “I believe Nigerians will witness significant improvements from these reforms. We also appreciate the President for allowing an open and fair legislative process.”
NASS to Pass Tax Reform Bills by Tuesday