In a significant step toward overhauling Nigeria’s tax administration, the Senate has passed two of the four major tax reform bills under consideration. The bills include one that repeals the Federal Inland Revenue Service (Establishment) Act and another that establishes the Joint Revenue Board alongside the Nigeria Revenue Service Bill 2025. Both were passed after a detailed clause-by-clause review and third reading during the Senate’s plenary session.
These reforms stem from a legislative package sent to the National Assembly by President Bola Ahmed Tinubu in October 2024. The proposed bills aim to modernize and streamline the nation’s tax system, improving both revenue generation and transparency in fiscal management. Their passage is seen as a crucial step in the broader economic reform agenda.
Senate President Godswill Akpabio praised the Senate’s progress and emphasized the long-term benefits of the bills. According to him, the reforms will greatly improve governance by transforming how taxes are collected and distributed across federal and state levels, fostering greater efficiency and accountability.
Akpabio also expressed confidence that the remaining two bills would be completed promptly. He reassured the public of the Senate’s commitment to finalizing the legislative process, stating that they are prepared to extend sitting hours if necessary to ensure all four reform bills are passed without delay.