The Senate will hold a two-day public hearing on the four tax reform bills presented by President Bola Tinubu to enhance the nation’s tax administration.
This announcement was made by Sen. Sani Musa, Chairman of the Senate Committee on Finance, during a news conference in Abuja on Wednesday.
After a closed session with committee members, Sen. Musa stated that the public hearing will take place on February 24 and 25.
He explained that two of the bills would be discussed each day to ensure the press is fully informed about the intended changes.
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The bills include the Nigeria Tax Bill 2024, the Nigeria Tax Administration Bill, the Nigeria Revenue Service Establishment Bill, and the Joint Revenue Board Establishment Bill.
According to Sen. Musa, these bills aim to overhaul the country’s tax system and improve revenue generation, with several provisions being groundbreaking in nature.
He emphasized that the reforms would align Nigeria with more advanced economies, ensuring that sectors like infrastructure, education, and agriculture are adequately funded.
Sen. Musa also noted that the committee had carefully reviewed the bills and engaged with various stakeholders before deciding to proceed with the public hearing.
He expressed confidence that the hearing would be successful and assured that President Tinubu had pledged not to interfere in the legislative process.
He added that the Senate’s goal is to create laws that will steer the country towards economic growth, saying, “We are all representatives of different tribes, religions, geography, and we are Nigerians.”
He also listed several invited guests for the hearing, including the Federal Minister of Finance, the Minister of Trade and Investment, the Attorney-General of the Federation, the Minister of Petroleum Resources, the Chairman of the Federal Inland Revenue Services, and the Statistician-General of the Federation.
Sen. Musa assured that the National Assembly would ultimately produce tax legislation that would be widely accepted by Nigerians.
