The Senate is on track to pass the highly anticipated tax reform bills, with key stakeholders nearing agreement on previously contentious issues.
Despite continued opposition, particularly from northern groups, progress is being made.
Senator Abba Moro, Chairman of the Senate’s Ad Hoc Committee on Tax Reform, revealed yesterday that public hearings on the bills would soon take place, setting the stage for a third reading.
Moro’s optimism followed a productive meeting with top officials, including Attorney General of the Federation, Lateef Fagbemi (SAN); Federal Inland Revenue Service (FIRS) Chairman, Zacch Adedeji; and other fiscal policy leaders.
The senator underscored the collaborative nature of the ongoing discussions.
“We’ve worked closely with the Attorney General, the FIRS Chairman, and other key stakeholders to align our positions. Our goal is to pass a law that benefits all Nigerians,” Moro said.
Though Moro refrained from detailing specific changes, he indicated significant progress had been made, with further meetings expected to finalize the bill’s framework.
FIRS Chairman, Zacch Adedeji echoed Moro’s optimistic view, noting that most of the contentious issues had been resolved.
“All the grey areas have been identified and clarified during discussions. This engagement has been productive, and I am confident we are on the right track,” Adedeji said.
He also emphasized that the bills are crucial for modernizing Nigeria’s tax system and enhancing revenue generation.
“Everyone involved agrees on the importance of these reforms. We are witnessing the law’s framework take shape with all parties in agreement,” he added.
The tax reforms represent a significant step in overhauling Nigeria’s tax system, with hopes that they will streamline tax collection and improve the country’s revenue base.
