BREAKING: Senate Initiates New Measures on Tinubu’s Tax Reform Proposals

The Nigerian Senate has instructed its Finance Committee to pause further deliberations on President Bola Ahmed Tinubu’s proposed tax reform bills....CONTINUE READING>>>

In a move to address concerns and ambiguities within the bills, the Senate has also established a special committee tasked with reviewing contentious provisions and providing a detailed report before public hearings are held.

This decision, made during Wednesday’s plenary session presided over by Deputy Senate President Barau Jibrin, is pending the outcome of a high-level consultation with the Attorney General of the Federation (AGF).

Barau acknowledged the controversies surrounding the bills and emphasized the need for thorough engagement with the AGF, the executive branch, and other stakeholders to ensure clarity and consensus.

The review committee, chaired by Minority Leader Senator Abba Moro (PDP, Benue South), includes prominent members such as Senator Titus Zam (APC, Benue North West), Senator Orji Uzor Kalu (Abia North), Senator Sani Musa (APC, Niger East), and Senator Abdullahi Yahaha (Kebbi North).

President Tinubu submitted the four tax reform bills to the National Assembly on October 3, 2024, as part of his administration’s strategy to strengthen fiscal institutions and advance developmental goals. However, the proposals have met resistance from various quarters, including state governors, traditional leaders, civil society organizations, and northern lawmakers.

The Senate’s decision highlights the importance of balancing fiscal reforms with the concerns of diverse stakeholders to ensure broad-based support for national development efforts.