The Nigerian Senate on Wednesday adopted the harmonised version of the tax reform bills proposed by President Bola Tinubu, a development that marks a significant step in overhauling the nation’s tax administration and revenue generation framework.
The Senate’s resolution followed the consideration of recommendations from a joint conference committee of both chambers, tasked with reconciling differences in the bills.
Senator Sani Musa, Chairman of the Senate Committee on Finance, presented the harmonised report, outlining the final agreements reached.
The four tax reform bills, transmitted to the National Assembly by President Tinubu in November last year, include the Joint Revenue Board (Establishment) Bill, 2025 (SB. 583); Nigeria Revenue Service (Establishment) Bill, 2025 (SB. 584); Nigeria Tax Administration Bill, 2025 (SB. 585); and Nigeria Tax Bill, 2025 (SB. 586).
According to an OBSERVERS TIMES report, this development comes three days after the parliament indicated it might consider passing the harmonised tax reform bills following a successful review of contentious clauses.
Hon. James Faleke, Chairman of the House of Representatives Committee on Finance, had last Sunday disclosed via his official X account that the conference committee had successfully concluded its work.
“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 and resolving contentious issues,” Faleke tweeted.
He added, “After an intensive deliberation that stretched through Thursday night, all day Friday, and into the early hours of Saturday, I am pleased to report that the Bills are now ready for presentation to both the House and the Senate for final passage.”
OBSERVERS TIMES also reported that the four tax bills were sent two weeks ago to the joint harmonisation committee, comprising members from both the Senate and the House of Representatives, to reconcile amendments before transmission to the President for his assent.
Following a majority voice vote, Senate President Godswill Akpabio praised the lawmakers for their dedication, emphasizing that the bills aim to ensure Nigeria’s tax system meets international standards.
“These four executive bills seek to transform and modernise the tax system in Nigeria,” Akpabio stated.
