JUST IN: SENATE APPROVES TWO MAJOR TAX REFORM BILLS, BLOCKS VAT HIKE.
Senate passes Nigeria Revenue Service Establishment Bill and Joint Revenue Board Establishment Bill
VAT increase from 7.5% to 10% rejected
Remaining two tax bills expected to be passed on Thursday
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The Nigerian Senate has passed two out of four tax reform bills submitted by President Bola Tinubu, signaling progress in the federal government’s revenue reform agenda.
The approved bills are:
Nigeria Revenue Service Establishment Bill
Joint Revenue Board Establishment Bill
These bills were passed following the review of an ad hoc committee report led by Senator Sani Musa (Niger East), created to resolve disputes around the reforms.
During the plenary session, senators debated each clause thoroughly in the Committee of the Whole. Senate President Godswill Akpabio, after a voice vote showed majority support, confirmed the passage and praised the reform’s potential.
> “These bills will add immense value to governance and transform how taxes are collected and shared in Nigeria,” Akpabio stated.
He also emphasized
