The National Assembly is on track to pass the harmonised tax reform bills by Tuesday, following the resolution of previously disputed sections in the proposed laws.
Naturenex reports that the Chairman of the House Committee on Finance, James Faleke, confirmed this development on Sunday through a post on his official đť•Ź handle. He announced that the review and harmonisation process had been successfully concluded.
Faleke, who led the House team in the harmonisation talks, explained that the Conference Committee — which included representatives from both the House of Representatives and the Senate — carefully reviewed all sections of the tax bills.
“The Conference Committee set up by the House and the Senate on the Tax Reform Bills has successfully concluded its work. The joint committees thoroughly reviewed all sections and addressed the grey areas of the four Bills, examining each clause strategically and resolving contentious issues,” Faleke wrote.
He went on to commend the efforts of the committee members, noting that deliberations stretched late into Thursday night, through Friday, and into the early hours of Saturday. According to him, the bills are now primed for presentation in both legislative chambers for final approval.
The House Finance Committee Chairman further acknowledged the contributions of both the Senate and House Conference Committees, with a special mention for the Senate’s finance committee leadership under Senator Sani Musa.
Faleke said, “I would like to especially appreciate the Senate Conference Committee, ably led by the Chairman of the Senate Committee on Finance, the Distinguished Senator Sani Musa.
I also extend heartfelt gratitude to my colleagues on the House Conference Committee, which I had the honour to lead, for their unwavering commitment to the Nigerian people.”
The tax reform bills, which had been forwarded to the harmonisation committee two weeks ago, were designed to overhaul Nigeria’s tax administration and align it with international best practices. Now that the committee has completed its task, the next step will be a final vote in both chambers before forwarding the bills to President Bola Tinubu for assent.
Senate President Godswill Akpabio had earlier commended lawmakers for their determination to reform the country’s tax framework and elevate it to global standards.
“These four executive bills seek to transform and modernise the tax system in Nigeria,” Akpabio remarked after the Senate passed the bills by majority voice vote.
Speaking after plenary, the Chairman of the ad hoc committee on the tax reform bills, Sani Musa, highlighted the importance of the bills, explaining that the revenue generated from the reforms would support vital national priorities.
“Parts of the tax proceeds will be used to fight cybercrime, boost defence infrastructure, TETfund, and aid soldiers in their efforts to restore peace and safety in the country,” Musa noted.
The Niger East lawmaker also revealed that the reforms would introduce an ombudsman to handle tax-related complaints and emphasised the creation of a dedicated tax tribunal.
Musa elaborated on key areas of focus, including value-added tax (VAT), tax collection procedures, development levies, and inheritance tax — some of which had been previously removed. He expressed optimism that Nigerians would soon benefit from the outcomes of the reforms.
“I believe Nigerians will see something nice from this. We also commend the President for giving a level playing field to all,” he added.
