The Nigerian House of Representatives has approved President Tinubu’s tax reform bills after months of debate. This decision follows significant opposition from the Northern Governors’ Forum and the National Economic Council regarding specific aspects of the reforms. The bills, which were initially submitted to the National Assembly in October 2024, aim to overhaul Nigeria’s taxation system.
On Thursday, the Nigerian House of Representatives approved President Bola Ahmed Tinubu’s tax reform bills after extensive deliberation. This announcement was made by presidential spokesperson Sunday Dare via his official X account, confirming the passage of the bills following months of contentious debate.
These reform bills have faced considerable opposition, particularly from the Northern Nigeria Governors’ Forum, which criticized the proposed value-added tax derivation model. Additionally, the National Economic Council expressed its dissent regarding this model, contributing to the ongoing controversy surrounding these reforms.
On October 3, 2024, President Tinubu presented four tax reform bills to the National Assembly, including the Nigeria Tax Bill 2024, the Tax Administration Bill, the Nigeria Revenue Service Establishment Bill, and the Joint Revenue Board Establishment Bill, emphasizing the government’s push for a comprehensive tax overhaul.
The approval of President Tinubu’s tax reform bills by the House of Representatives marks a significant step in the Nigerian government’s fiscal policy. Despite facing opposition from various stakeholders, including regional governors and economic councils, the bills are now set to advance through the legislative process, highlighting the complexities of tax reform in Nigeria.
Original Source: dailypost.ng
