In a key legislative milestone, the Nigerian Senate has passed the final two bills in a sweeping tax reform package, marking the completion of the National Assembly’s work on all four proposed fiscal overhaul measures.
The approved bills now advance to the harmonisation stage, where a joint conference committee of the Senate and House of Representatives will reconcile any differences before transmitting the final versions to President Bola Ahmed Tinubu for assent.
Seen as a cornerstone of the administration’s fiscal strategy, the reform package is designed to simplify Nigeria’s tax framework, improve compliance, and bolster public revenue.
The Senate leadership has emphasized the importance of the reform effort, describing the passage as “a significant step in the government’s efforts to streamline the tax system, improve revenue collection, and enhance overall economic stability.”
Observers note that the reforms have sparked widespread attention, given their potential effects on corporate and personal taxation, as well as implications for the national economy.
Once harmonisation is complete, “the final version of the bills will be presented to President Tinubu, who is expected to review and sign them into law,” Senate sources confirmed.
