The Nigerian Senate on Thursday passed for second reading four controversial tax reform bills introduced by President Bola Ahmed Tinubu, aimed at overhauling the country’s tax administration system.
The proposed legislation seeks to harmonize tax policies, coordinate revenue administration, and address disputes arising from Nigeria’s fragmented tax framework.
During the plenary session, Senate Leader Opeyemi Bamidele led the debate on the proposed bills. He highlighted that the reforms are designed to simplify tax administration, reduce the financial burden on low-income earners, and improve revenue collection.
“These bills are pivotal for streamlining our tax processes and easing compliance for Nigerians. They will ultimately enhance our fiscal stability,” Bamidele asserted.
However, the bills sparked heated debate among lawmakers. Senator Ali Ndume, representing Borno South, opposed the timing of the reforms and raised concerns over contentious provisions relating to the revenue-sharing formula and Value Added Tax (VAT) derivation. He argued that the proposed legislation lacked adequate consultation.
“I urge the Senate to withdraw these bills for wider stakeholder engagement. The issues of VAT derivation and revenue allocation are too sensitive to be rushed,” Ndume emphasized.
Despite these reservations, several senators expressed support for the bills, describing them as critical for Nigeria’s economic revival. Senator Seriake Dickson of Bayelsa West noted that the reforms could foster transparency and enhance revenue generation.
Senate Minority Leader Abba Moro and Chief Whip Mohammed Tahir Monguno also lent their voices in support, calling for swift action to address the nation’s fiscal challenges.
Following extensive deliberations, the Senate passed the four bills for second reading through a unanimous voice vote presided over by Senate President Godswill Akpabio.
In a separate development, the Senate held a valedictory session to honour the late Dr. Joseph Wayas, a former Senate President, renowned for his contributions to Nigeria’s democratic evolution.
During the session, senators eulogized Dr. Wayas’ statesmanship, describing him as a visionary leader who played a pivotal role in Nigeria’s governance.
“The late Dr. Wayas was a man of unblemished integrity, whose service to the nation remains exemplary,” Senate President Akpabio remarked.
The remains of Dr. Wayas were displayed in the Foyer of the National Assembly, draped in the National Flag, as senators paid their final respects.
The Senate’s tribute underscored the late Wayas’ enduring legacy in fostering democracy and good governance in Nigeria.
The dual proceedings marked a significant day for the Red Chamber, blending legislative advancements with solemn reflection on the
nation’s democratic history.
