Nigerian Senate Passes Two Tax Reform Bills

The Nigerian Senate has approved two of the four major tax reform legislations, signifying a key achievement in the ongoing reform of the nation’s tax administration system.

The two legislations—one aimed at repealing the Federal Inland Revenue Service (Establishment) Act and another intended to create the Joint Revenue Board (Establishment) Bill 2025 alongside the Nigeria Revenue Service Bill 2025—were approved after a detailed examination during the Committee of the Whole and their later third reading on the Senate floor.

In October 2024, President Bola Ahmed Tinubu submitted the four tax reform bills to the National Assembly for review and approval.

Nevertheless, Senate President Godswill Akpabio praised the advancement, hoping the reform measures would improve governance and transform tax collection and distribution throughout the nation.

“These bills will add immense value to governance and transform how taxes are collected and shared in Nigeria,” he said.

He further promised that the other two bills would be completed tomorrow (Thursday), even if it necessitated extended working hours.