The National Assembly has formally transmitted the tax reform bills to President Bola Tinubu, marking a critical step in the administration’s ambitious fiscal overhaul under the Renewed Hope agenda.
The Chairman of the Senate Committee on Media and Public Affairs, Senator Yemi Adaramodu, confirmed the development during a press briefing at the National Assembly complex on Tuesday, disclosing that the harmonisation process between the Senate and the House of Representatives had been completed.
“Yes, the bill has now been transmitted. It is out of our hands and on its way to the executive,” Adaramodu stated.
The legislative package includes the Joint Revenue Board (Establishment) Bill, Nigeria Revenue Service (Establishment) Bill, Nigeria Tax Administration Bill, and the Nigeria Tax Bill.
All four are designed to modernise tax collection, expand the tax base, and improve inter-governmental coordination—core pillars of Tinubu’s economic reform strategy.
The bills, first submitted in November 2024, were passed by both chambers after months of debate, revisions, and intense behind-the-scenes negotiations. Adaramodu explained that the lengthy legislative process was deliberate and necessary.
Adaramodu said, “Tax bills like these require careful scrutiny. Legal departments in both chambers must ensure they align with existing laws before we send them to the Presidency. It’s not a matter of two or three days,” he said, detailing the stages involving joint committees, aggregators, and legal review teams.
“After harmonisation, the Clerk of the National Assembly prepares the final document. Only then can the Senate President and the Speaker sign off for transmission.”
Just a week earlier, Senate President, Godswill Akpabio, had credited the eventual approval of the bills to “national interest, inclusive legislative engagement, and strategic leadership.”
One of the most contentious provisions was the initial proposal to allow tax-generating states to retain 60% of Value Added Tax (VAT) revenue—a clause that drew strong opposition, particularly from lawmakers in the North who feared it would economically sideline their region.
The Senate ultimately negotiated a middle ground, slashing the retention rate to 30% and replacing the politically sensitive term “derivation” with “place of consumption” to ensure consensus.
The tax reform bills also faced stiff resistance from state governors and divisions within the National Assembly itself.
But Akpabio commended the maturity shown by his colleagues and acknowledged the leadership of House Speaker Tajudeen Abbas for rallying younger lawmakers to support the reform.
“We must salute the courage of our governors who initially resisted but later accepted the revised framework in the spirit of national unity,” Akpabio said.
If signed into law, the tax reform bills will represent one of the most comprehensive overhauls of Nigeria’s fiscal policy architecture in decades—streamlining revenue administration, decentralising tax oversight, and plugging longstanding leakages in the system.