Earlier today, the Senate set up a committee, chaired by Minority Leader Senator Abba Moro (PDP, Benue South), to address issues surrounding the Tax Reform Bills currently under review.
The committee plans to meet with Attorney General Lateef Fagbemi to resolve concerns before holding public hearings.
Deputy Senate President Barau Jibrin, who led Wednesday’s plenary, stressed the need for cooperation between the legislature and executive to resolve differences in the bills.
He mentioned that political and regional disagreements were put aside to tackle the country’s economic and security challenges.
The bills, submitted by President Bola Ahmed Tinubu on October 3, 2024, aim to streamline Nigeria’s revenue administration.
However, they have faced significant opposition, particularly from Northern Nigeria, prompting the National Economic Council to recommend further consultations.
Tinubu has declined this suggestion, pushing for legislative review.
Barau also announced that the Committee on Finance has paused public hearings on the bills until the committee’s discussions with the Attorney General are complete.
Despite the controversies, the bills passed a second reading in the Senate last week via voice vote.
The ongoing review aims to find a solution that balances national unity with effective tax reform.
