After months of deliberations, the House of Representatives has passed the four tax bills transmitted by President Bola Tinubu in October 2024.
The bills were approved on Tuesday after being read for the third time.
Last Thursday, the House had considered and endorsed the report from the Committee on Finance, which recommended several amendments to the executive bills.
The bills had faced delays for nearly three months, during which public hearings were held and stakeholders submitted memoranda on the proposed tax reforms.
The hearings primarily focused on improving Nigeria’s tax administration system.
During Tuesday’s plenary, House Leader Julius Ihonvbere moved for the bills to be read for the third and final time.
“Mr. Speaker and honourable colleagues, I move that the bill for an Act to provide for the assessment, collection of, and accounting for revenue accruing to the federation, federal, states, and local governments, prescribing the powers and functions of tax authorities, and for related matters be read for the third time,” he said.
He also moved for additional tax-related bills to be read for the third time, including one to repeal the Federal Inland Revenue Service (Establishment) Act, No.13, 2007, and replace it with the Nigeria Revenue Service (Establishment) Bill.
This bill aims to establish the Nigeria Revenue Service, which will be responsible for assessing, collecting, and accounting for government revenue.
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Other bills considered included the establishment of the Joint Revenue Board, the Tax Appeal Tribunal, and the Office of the Tax Ombudsman to harmonize tax administration and resolve disputes related to revenue collection.
Additionally, lawmakers passed a bill to repeal certain existing tax laws and consolidate Nigeria’s taxation framework under the proposed Nigeria Tax Act, which will regulate the taxation of income, transactions, and financial instruments.
With Speaker Tajudeen Abbas presiding, lawmakers overwhelmingly supported the bills. The next stage will see the bills forwarded to President Tinubu for assent after they pass through the Senate.
If differences arise between the Senate and House versions, a harmonization process will be required before they become law.
Despite broad support, the bills faced resistance from some lawmakers, particularly those from northern Nigeria, who aligned with their governors in calling for further consultations before implementation.
