A crucial meeting on Monday, took place between the Senate and the Federal Government’s team, led by Attorney General of the Federation, Lateef Fagbemi (SAN), to address concerns surrounding the four Tax Reform Bills sent by President Bola Tinubu to the National Assembly.
In light of the controversy the bills sparked, President Tinubu had expressed his willingness for a review, instructing the AGF to meet with lawmakers to resolve any issues. The two teams met for over two hours behind closed doors.
After the meeting, Senator Abba Moro, chairman of the Senate’s ad hoc committee on tax reforms, described the discussions as productive, revealing that significant progress had been made. He also hinted at a public hearing to follow soon.
“We interfaced with the AGF, the RMAFC Chairman, and the FIRS Chairman to evaluate the contentious points regarding the tax bills. We have agreed to streamline the processes to ensure the final law serves the interest of all Nigerians,” Moro stated.
He added that the upcoming public hearing would offer a platform for wider stakeholder participation.
“We are now working towards synthesizing input from all parties, and we are optimistic about finalizing the process soon,” he concluded.
Chairman of the Federal Inland Revenue Service, Zacch Adedeji, expressed confidence that the bills would pass legislative scrutiny.
He mentioned that all previous concerns had been addressed during the meeting.
“All grey areas were clarified today. The AGF, lawmakers, and we, the operators, are now aligned. We’re confident the laws will meet the expectations of Nigerians,” Adedeji remarked.
The four proposed bills—the Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and Joint Revenue Board (Establishment) Bill—aim to overhaul Nigeria’s tax system to improve efficiency and revenue generation.
Having passed their second reading in the Senate on November 28, 2024, the bills have attracted significant attention due to their potential impact on the nation’s fiscal framework.
The Senate, through the planned public hearing, seeks to ensure that the final legislation reflects diverse viewpoints and garners broad support.
