JUST IN: Senate passes remaining 2 tax reform bills

The Senate has passed the remaining two out of the four tax reform bills after completing the clause-by-clause consideration during the Committee of the Whole and their subsequent third reading on the Senate floor.

The two latest bills passed are the 'Nigeria Tax Bill 2024' and the 'Joint Revenue Board Establishment Bill.'

This comes barely 24 hours after the red chamber passed the first two bills - one seeking to repeal the Federal Inland Revenue Service (Establishment) Act and another to establish the Joint Revenue Board (Establishment) Bill 2025, along with the Nigeria Revenue Service Bill 2025.

Lawmakers began deliberation on the reports of the four executive-sponsored tax bills during plenary on Wednesday, May 7, 2025. Two were successfully passed, and the remaining two were deferred to Thursday.

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“These four executive bills seek to transform and modernise the tax system in Nigeria,” the Senate stated during the session.

Following the passage, the Senate has constituted a conference committee to harmonise the versions with the House of Representatives. Once aligned, the bills will be forwarded to President Bola Tinubu for assent.

Recall that the President transmitted the four tax reform bills to the National Assembly in October 2024 for consideration and passage.

However, some provisions of the bill sparked controversy in various sections across the country, leading to delays in considering their passage.

The intervention of the Nigerian Governors' Forum (NGF) helped to resolve the major concerns raised by critics, paving the way for the bills to be considered for passage at both chambers of the National Assembly.

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