National Assembly Set Date To Approve Harmonised Tax Reform Bills

The National Assembly is set to pass the harmonised tax reform bills by Tuesday, following the resolution of previously contentious clauses.

Chairman of the House Committee on Finance, James Faleke, announced on Sunday via his official account that the review process has been successfully completed. Faleke, who also headed the House delegation during the harmonisation exercise, stated that the Conference Committee — comprising members from both the Senate and the House of Representatives — had thoroughly examined all sections of the proposed tax legislation.

“The Conference Committee set up by the House and the Senate on the Tax Reform Bills has successfully concluded its work,” he wrote. “All four bills were carefully reviewed, with grey areas addressed and contentious clauses resolved.”

Faleke commended the committee members for their tireless efforts, noting that deliberations extended late into Thursday night and continued through Friday and early Saturday morning. He confirmed that the bills are now ready to be presented for final passage in both chambers.

He also extended his appreciation to the Senate’s Conference Committee, led by Senator Sani Musa, and praised the dedication of his colleagues in the House.

The tax reform bills, which were submitted to the joint committee two weeks ago, are intended to modernise Nigeria’s tax framework and align it with international standards. Once passed by the National Assembly, the bills will be forwarded to President Bola Tinubu for assent.

Senate President Godswill Akpabio had earlier lauded lawmakers for their commitment to overhauling Nigeria’s tax system in line with global best practices.