Senate Kicks Off Public Hearing on Tax Reform Bills Amidst Calls for Fair and Efficient Taxation

Public hearing on the four tax reform bills commenced in the Senate yesterday with key stakeholders throwing their weights behind them.

Senate President Godswill Akpabio told the stakeholders at the hearing that less than 30% of Nigerians pay tax.

“This is part of the ways we can diversify our economy by making sure that we get it right. I don’t think at the moment that up to 30 per cent of Nigeria pay taxes and yet, 100 per cent of Nigerians want good roads”, he said.

The proposed laws– Nigeria Tax Bill (NTB) 2024, Nigeria Tax Administration Bill (NTAB) 2024, Nigeria Revenue Service (Establishment) Bill (NRSEB) 2024 and the Joint Revenue Board (Establishment) Bill (JRBEB) 2024—were presented to the National Assembly for passage by President Bola Ahmed Tinubu in October last year.

However, the debate on them caused a storm in the House of Representatives before the lawmakers passed the bills for public hearing.

Akpabio challenged lawmakers, stakeholders, and the private sector to unite in overhauling Nigeria’s tax system, which he described as outdated and burdensome.

He emphasised that taxation should not be a tool of oppression, but a mechanism for national development.

Highlighting the injustice of tax revenue distribution, the Senate President questioned why states hosting factories that pay VAT receive little benefit while corporate headquarters in other regions collect the bulk of taxes.

“Taxation should be fair, transparent, and efficient. Every Nigerian deserves a system that works for them, not against them,” Akpabio said.