The Senate on Thursday passed the remaining two of the four crucial Tax Reform Bills transmitted to the National Assembly by President Bola Tinubu, marking a significant step toward the overhaul of Nigeria’s tax architecture.
The two bills—the Nigeria Tax Bill 2024 and the Nigeria Tax Administration Bill 2024—were approved during plenary after the adoption of a report presented by the Senate Committee on Finance, chaired by Senator Musa Mohammed Sani (APC, Niger East).
The legislative action comes one day after the Red Chamber passed the other two related bills: the Nigeria Revenue Service (Establishment) Bill 2024 and the Joint Revenue Board (Establishment) Bill 2024.
The four bills form the backbone of comprehensive fiscal and tax reforms proposed by the Presidential Committee on Fiscal Policy and Tax Reforms, chaired by Taiwo Oyedele. The committee was inaugurated to simplify, modernize, and make Nigeria’s tax system more equitable and efficient.
Senate President Godswill Akpabio, who presided over Thursday’s session, noted that the passage of the bills is in line with the Tinubu administration’s commitment to economic reform and fiscal sustainability.
The House of Representatives had earlier passed all four bills at third reading in March 2025 before proceeding on Easter and Eid-el-Fitr recess.
To ensure coherence between the versions passed by both chambers, the Senate on Thursday constituted a 15-member conference committee to harmonize the bills with the House’s version.
Once harmonized, the unified documents will be forwarded to President Tinubu for his assent, officially setting the stage for implementation.
Analysts say the legislative progress signals a strong push by the federal government to boost revenue generation, reduce tax evasion, and streamline multiple tax layers that have burdened businesses and individuals alike.
The reform bills are expected to reshape Nigeria’s tax landscape and are considered a major milestone in the Tinubu administration’s broader economic agenda.