The National Assembly may pass the tax reform bills on Tuesday to finally move Nigeria to a modernised and equitable tax system following the conclusion of the Conference Committee of the National Assembly to harmonise the provisions of the documents passed by the two chambers.
Once passed, the documents will be presented to the President Bola Tinubu for assent.
The Senate and the House of Representatives set up a committee to harmonise the versions of the Tax Reform Bills passed by the two chambers, and James Faleke, Chairman of the House Committee on Finance, in a statement over the weekend, announced the conclusion of work, expressing gratitude to all committee members for their commitment and resilience throughout the deliberations.
“The Conference Committee set up by the House and the Senate on the Tax Reform Bills has successfully concluded its work,” Faleke said. “After intensive deliberation that stretched through Thursday night, all day Friday, and into the early hours of Saturday, I am pleased to report that the Bills are now ready for presentation to both the House and the Senate for final passage.”
Faleke, who chaired the House side of the Conference Committee, extended special appreciation to his Senate counterpart, Senator Sani Musa, Chairman of the Senate Committee on Finance, and other members of the Senate Conference Committee for their collaboration and dedication.
The harmonization process is pivotal in Nigeria’s legislative procedures, particularly for fiscal policy changes. It ensures that differing versions of legislation passed by both chambers of the National Assembly are unified into a single document before being transmitted to the President for assent.
The finalised tax reform package is built around four executive-sponsored bills: the Nigeria Revenue Service (Establishment) Bill, the Nigeria Tax Administration Bill, the Joint Revenue Board (Establishment) Bill, and the Nigeria Tax Bill. These bills, initiated by President Bola Ahmed Tinubu in October 2024 and passed by both chambers in May 2025, are designed to overhaul Nigeria’s outdated fiscal architecture.
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The Nigeria Revenue Service (Establishment) Bill creates the Nigeria Revenue Service (NRS), which replaces the Federal Inland Revenue Service (FIRS), with a renewed focus on modernization, transparency, and operational efficiency.
The Nigeria Tax Administration Bill lays down a unified legal framework for tax administration, streamlining compliance and dispute resolution processes.
The Joint Revenue Board (Establishment) Bill proposes a 63-clause framework to replace the existing Joint Tax Board. It aims to institutionalize collaboration among federal, state, and local governments and includes provisions for establishing a Tax Appeal Tribunal.
The Joint Revenue Board (Establishment) Bill proposes a 63-clause framework to replace the existing Joint Tax Board. It aims to institutionalize collaboration among federal, state, and local governments and includes provisions for establishing a Tax Appeal Tribunal.
The Nigerian Tax Bill addresses longstanding concerns about compliance complexity and cost. It proposes simplified tax systems that align with international best practices, reduce administrative burden, and promote equity by requiring more from high-income earners while easing the load on small businesses and low-income groups.
The bills are expected to reduce business costs, particularly in the construction sector, and boost investor confidence through simplified and transparent procedures.
President Tinubu has consistently championed comprehensive tax reforms as a cornerstone of his economic agenda. Speaking at the 27th Annual Tax Conference of the Chartered Institute of Taxation of Nigeria (CITN) in Abuja, the President reiterated his administration’s dedication to a transparent and efficient tax system that fosters national development.
“A robust, transparent, and fair tax system is essential for financing government operations and creating an environment of accountability, stability, and long-term development,” Tinubu declared.
Tinubu highlighted key initiatives, including establishing the Presidential Committee on Fiscal Policy and Tax Reforms, tasked with simplifying the tax structure and aligning fiscal policies with Nigeria’s development goals.
He also underscored the digitization of tax processes and data analytics to enhance compliance and service delivery.
