tax Archives - Parliament Reports

At OrderPaper, NEITI dialogue, stakeholders engage on Nigeria’s tax reforms

Sharon EboesomiMarch 4, 20259 min

While the tax bills were generally applauded, stakeholders urge caution on implications for transparency and accountability in extractives Stakeholders have raised concerns over the potential impact of the proposed Nigeria Tax Bill (NTB) and other related reforms on the extractive sector. The reforms, however, received generally positive commentaries from speakers and contributors during a stakeholder engagement session convened by OrderPaper Nigeria in collaboration with the Nigeria Extractive Industries Transparency Initiative (NEITI) which held on Monday,...

Senate

Tax Reforms: Senate adjourns for retreat and more consultations

Sharon EboesomiFebruary 26, 20252 min

The retreat will review all submissions and memoranda to craft legislation acceptable to all regions and stakeholders. The senate has reiterated its dedication to a comprehensive review of all submissions on the tax reform bills, emphasising the need for thorough scrutiny and stakeholder engagement. To advance this effort, the senate committee on finance has scheduled a three-day retreat for consultations with experts. The committee’s chairman, Sen. Sani Musa (APC, Niger east), announced this during a...

Senate

Senate finally set for public hearing on tax reform bills

Sharon EboesomiFebruary 19, 20253 min

To ensure a comprehensive review of the proposed tax reforms, the senate has invited 71 key stakeholders to attend the public hearing The senate committee on finance has announced that it will commence a two-day public hearing on the tax reform bills on Monday and Tuesday next week. Parliament Reports recalls that these bills were submitted to the National Assembly by President Bola Tinubu on October 3, 2024, and have since faced criticism from a...

Citizens Speak

Tax Reforms: Examining the controversial bills

Op-ed EditorFebruary 18, 202510 min

Nigeria’s proposed tax reform bill has ignited fierce debate, with supporters hailing it as a necessary step to modernise an outdated system and boost revenue, while critics warn of economic strain and regional inequality. By Michael Olaogun As the year 2024 was drawing to a close, Nigeria’s political climate was engulfed with conversations and counter conversations on the proposed tax reform bills that are currently being considered by the Nigerian National Assembly. The imbroglio continues...

Senate

Tax reform bills set for public hearing soon – senate

Sharon EboesomiJanuary 14, 20253 min

FIRS Chairman, Zacch Adedeji said all grey areas in the tax reform bills have been resolved, with no further meetings required. The senate has signaled progress on the tax reform bills, with public hearings set to be held soon, paving the way for their passage at third reading. Chairman of the senate ad-hoc committee on tax reforms, Sen. Abba Moro (PDP, Benue south) confirmed this on Monday while speaking to journalists after a two-hour closed-door...

Senate

Tremors of tax bills and blackout blues | SENATE GIST TODAY

Sharon EboesomiDecember 5, 20244 min

Today, the senate addressed the country’s frequent grid collapses, electricity blackouts, and other issues centred around tax bills. BLACKOUT: Senate slams GenCos, TCN, and DisCos over grid collapse The Senate has strongly criticised power sector operators, including Generation Companies (GenCos), the Transmission Company of Nigeria (TCN), and Distribution Companies (DisCos), for failing to deliver reliable electricity, asserting that they have added no significant value to the sector. The Senate described the privatization of the power...

Senate

‘Senate cannot be bullied, tax bills are alive’ – Bamidele

Sharon EboesomiDecember 5, 20245 min

“We don’t take orders from anyone or any office, no matter how highly placed. We cannot be bullied into taking certain procedures as far as we are concerned.” The senate has refuted media reports claiming it has suspended or withdrawn deliberations on the tax reform bills, clarifying that it merely set up a committee to engage with the Attorney-General of the Federation (AGF), Lateef Fagbemi, to address contentious provisions in the bills. This followed a...

Senate

Tax Bills: Senate removes Monguno from review committee

Sharon EboesomiDecember 5, 20242 min

The change, implemented during Thursday’s plenary, came just 24 hours after the committee’s formation. The senate has revised the membership of the 10-man committee established on Wednesday to liaise with the presidency on contentious aspects of the tax reform bills and removed the chief whip, Sen. Tahir Monguno (APC, Borno north) from the committee. The change, implemented during Thursday’s plenary, came just 24 hours after the committee’s formation. The leader of the senate, Opeyemi Bamidele...

Senate

Pause on tax bills as minister faces probe | SENATE GIST TODAY

Sharon EboesomiDecember 4, 20245 min

Today, the senate summoned the minister of aviation and aerospace, Festus Keyamo, to address incessant flight delays and cancellations. It also set up a review panel to address contentious issues in the tax reform bills. Tax bills: Senate opts for further consultations The senate has instructed its finance committee to halt further action on the proposed tax reform bills pending the outcome of a high-level meeting with the Attorney General of the Federation (AGF). Announcing...

Senate

Tax bills: Senate asks finance committee to stay action, names review panel

Sharon EboesomiDecember 4, 20242 min

The finance committee is asked to stay action to allow a review panel harmonise divergent positions, ensuring the contentious tax bill align with national priorities The senate has instructed its finance committee to halt further action on the proposed tax reform bills pending the outcome of a high-level meeting with the Attorney General of the Federation (AGF). Announcing the decision during today’s plenary, Deputy President of the Senate, Barau Jibrin revealed that a special committee...

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