The Nigerian Senate is scheduled to deliberate and potentially pass President Bola Tinubu’s four tax reform bills today, Wednesday, May 7, 2025. These bills—comprising the Nigeria Tax Bill 2024, Nigeria Tax Administration Bill 2024, Nigeria Revenue Service (Establishment) Bill 2024, and Joint Revenue Board (Establishment) Bill 2024—aim to overhaul the nation’s tax system to enhance revenue generation and streamline tax administration.
Senate President Godswill Akpabio announced the planned consideration during Tuesday’s plenary session, following the presentation of the bills’ report by Senator Sani Musa, Chairman of the Senate Committee on Finance. Akpabio directed that copies of the report be distributed to all senators for thorough review, facilitating informed contributions during deliberations.
The passage of these bills has been delayed for several months, despite the House of Representatives approving them two weeks prior. The Senate’s postponement was attributed to the need for additional scrutiny and to address pressing national issues, including escalating security challenges across the country.
In response to the rising insecurity, the Senate has also resolved to organize a two-day national security summit aimed at finding solutions to the increasing wave of violence and instability. This decision followed a motion by Senator Jimoh Ibrahim, highlighting recent mass killings in Plateau, Benue, and Zamfara states.
The tax reform bills have been subjects of intense debate, particularly concerning the proposed changes to the Value Added Tax (VAT) distribution formula. Critics, especially from northern regions, argue that the reforms could disadvantage less economically developed states, exacerbating existing inequalities.
As the Senate convenes today, the nation watches closely to see the outcome of these significant legislative deliberations, which have far-reaching implications for Nigeria’s fiscal policy and national unity.
