In a landmark move that could reshape Nigeria’s fiscal landscape, the National Assembly has formally transmitted a set of four tax reform bills to President Bola Ahmed Tinubu for presidential assent. The legislative package, which has stirred intense debate across political and regional lines, marks a critical step in the administration’s Renewed Hope economic agenda.
The bills—comprising the Joint Revenue Board (Establishment) Bill, Nigeria Revenue Service (Establishment) Bill, Nigeria Tax Administration Bill, and Nigeria Tax Bill—aim to modernize tax collection, broaden the national tax base, and streamline coordination between federal, state, and local governments.
Senator Yemi Adaramodu, Chairman of the Senate Committee on Media and Public Affairs, confirmed the transmission during a press briefing at the National Assembly Complex. “Yes, the bill has now been transmitted. It is out of our hands and on its way to the executive,” he stated.
Originally submitted by President Tinubu in November 2024, the bills underwent months of scrutiny, revisions, and harmonization between the Senate and House of Representatives. Among the most contentious provisions was an initial proposal allowing tax-generating states to retain 60% of Value Added Tax (VAT) revenue—a clause that was later revised to 30% following opposition from lawmakers representing Northern states.
Senate President Godswill Akpabio praised the legislative process, calling it “a demonstration of national interest, inclusive legislative engagement, and strategic leadership.” He also commended state governors and younger lawmakers for their eventual consensus on the revised framework.
If signed into law, the reforms are expected to plug revenue leakages, eliminate double taxation, and reduce the burden on small-scale traders and farmers, while enhancing transparency and efficiency in Nigeria’s tax system.