The Senate has passed two of four major tax reform bills, marking a significant step in the overhaul of Nigeria’s tax administration system.
The approved bills include one to repeal the Federal Inland Revenue Service (Establishment) Act and another to establish both the Joint Revenue Board and the Nigeria Revenue Service (NRS) under the 2025 framework. They were adopted after clause-by-clause review and third reading on the Senate floor.
President Bola Ahmed Tinubu had forwarded the reform package to the National Assembly in October 2024.
Senate President Godswill Akpabio hailed the development, stating the bills would strengthen governance and transform the country’s tax collection and revenue-sharing processes.
“These bills will greatly improve how taxes are collected and distributed in Nigeria,” Akpabio said.
He also assured that the remaining two bills would be passed on Thursday, even if it required extended deliberations.
“We are determined to complete this tomorrow, even if it means sitting until 10 p.m.,” he added.
