ABUJA –
On Thursday, the Senate, during a full session, approved the remaining two out of four Tax Reform Bills, after passing the first two on May 7.
Remember, the two bills that have been approved are the Joint Revenue Board Establishment Bill 2025 and the Nigerian Tax Bill 2025.
The passage ensued after a detailed line-by-line review of the Senate Committee on Finance’s recommendations regarding the bills.
The President of the Senate, Godswill Akpabio, stated that the Nigeria Tax Bill 2025 integrates and consolidates the taxation legal structures within the country.
As per his statement, the Joint Revenue Board Establishment Bill 2025 includes the Tax Appeal Tribunal and the Office of the Tax Ombudsman. It also aims at streamlining and coordinating the management of revenue taxes in Nigeria.
Akpabio praised Senator Sani Musa, the Chairperson of the Finance Committee, along with the committee members and tax advisors for their contributions to the bills.
He expressed his gratitude to the legislators for their thorough line-by-line review of the bills, noting that this process has made it an exceptionally rewarding week for Nigerian interests.
He stated that the enactment of these bills was a historical moment and would be advantageous for the nation.
The Senate President expressed confidence that once enacted, these tax laws would generate additional income for the country, ensure fair tax administration, and ultimately speed up development for the next generation of Nigerians.
He mentioned that the joint committee from both the Senate and the House of Representatives would consolidate the bills before sending them for presidential approval. He also noted that this development would result in Nigeria adopting an updated tax framework aligned with international standards in taxation.
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