The Nigerian Senate is set to conduct public hearings on Monday and Tuesday next week to deliberate on tax reform bills forwarded to both chambers of the National Assembly by President Bola Tinubu.
The hearings aim to gather input from stakeholders on the proposed legislation, which seeks to reshape the nation’s tax system and boost economic growth.
Chairman of the Senate Committee on Finance, Senator Sani Musa (APC, Niger East), disclosed this during a press briefing in Abuja on Wednesday. He stated that the hearings follow extensive consultations with relevant stakeholders and will focus on four key bills.
According to Senator Musa, the Joint Revenue Board Establishment Bill and the Nigerian Revenue Services Bill will be discussed on Monday, while the Nigerian Tax Administration Bill and the Nigerian Tax Bill will be addressed on Tuesday.
He emphasized that the bills aim to overhaul tax administration, collection, and operations in Nigeria.
“The main purpose of the reform bills is to see how the government will generate more revenue so that we’ll be able to put our country on the pedestal of advanced economies where infrastructure, education, the agricultural sector, and virtually every sector that revolves around the ecosystem of the economy will be adequately taken care of,” he explained.
The hearings will feature key government officials, including the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun; the Attorney General of the Federation, Lateef Fagbemi (SAN); the Chairman of the Federal Inland Revenue Service, Zacch Adedeji; the Statistician General of the Federation and Chief Executive of the National Bureau of Statistics, Prince Adeyemi Adeniran; and the Ministers of Petroleum and Trade and Investment, among others.
Senator Musa expressed confidence in the process, noting that the committee has already engaged with numerous stakeholders. “Expectedly, we have had engagements with a lot of stakeholders before arriving at where we are today, and I believe that the public hearing is going to go on smoothly, and wherever the grey areas are, they will be addressed,” he said.
He also reiterated President Tinubu’s commitment to non-interference in the legislative process. “Mr. President himself has said it, times without number, that he’s not going to interfere. It is our duty as legislators to do the needful for the good of this country,” Musa stated.
The Senator further highlighted the committee’s dedication to crafting laws that will drive Nigeria’s economic progress. “We are all representatives of different tribes, religions, and geographic histories, but we are Nigerians. And what we will work towards giving Nigeria are laws and legislation that will put us on track economically, and by the grace of God, I think… We will succeed,” he added.
Earlier, the committee met with the top management of the Ministry of Finance Incorporated (MOFI), led by its Managing Director and Chief Executive Officer, Dr. Armstrong Tokang. The committee directed MOFI to provide a comprehensive national assets register to aid in the legislative process.
