Senate Set to Pass Tinubu’s Tax Reform Bills Amid Legislative Push
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The Senate is poised to approve President Bola Tinubu’s tax reform bills today (Tuesday), paving the way for sweeping fiscal policy changes.
Two senior senators, speaking on condition of anonymity, confirmed the development, citing last week’s political disruptions as the only reason for the delay.
“This should have been done last week had the Rivers State emergency issue not arisen,” one senator said. “But certainly, the four bills will be approved tomorrow.”
Attempts to reach the Chairman of the Senate Committee on Media and Publicity, Senator Yemi Adaramodu, for confirmation proved unsuccessful, as calls and text messages went unanswered.
The Senate’s imminent approval follows the House of Representatives’ endorsement of the four bills just two weeks ago. The proposed legislation—the Nigerian Tax Bill, Tax Administration Bill, Revenue Tax Board Bill, and Nigerian Revenue Service Establishment Bill—has sparked debate over its potential impact on businesses and taxpayers.
A clause-by-clause review in the House resulted in key amendments, including the retention of the Value Added Tax (VAT) rate at 7.5%, rather than implementing a staggered increase. The revised bills also extend income tax exemptions to certain agricultural businesses and military personnel.
Two weeks ago, the Senate held a public hearing to scrutinise the proposals, drawing input from government officials, financial regulators, and industry stakeholders. Attendees included Finance Minister Wale Edun, FIRS Chairman Zacch Adedeji, NNPC GCEO Mele Kyari, Customs Comptroller General Adewale Adeniyi, and several cabinet ministers.
With the House and Senate now aligned, the bills will soon be transmitted to President Tinubu for final assent—marking a significant milestone in his administration’s tax reform agenda.
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