The House of Representatives on Tuesday passed the four tax reform bills for the third reading, marking a significant step in Nigeria’s ongoing fiscal policy overhaul.
The bills, initially sent to the National Assembly in October 2024, aim to modernize the country’s tax system and enhance revenue generation. Their passage followed a review by the House Committee on Finance, which considered various submissions from the public.
The approval of the bills has not been without controversy, as several groups, including Northern leaders and the Nigeria Governors Forum, voiced strong opposition to certain provisions. Critics argue that some sections may have adverse economic implications for states and businesses.
Despite the opposition, the House moved forward with the reforms, emphasizing their importance in strengthening Nigeria’s tax framework. With this legislative milestone, the bills will now proceed to the Senate for further deliberation and potential enactment into law.
