In a significant step towards overhauling Nigeria’s fiscal framework, President Bola Tinubu signed into law four key tax reform bills President Bola Tinubu has signed into law four key tax reform bills aimed at unifying tax administration, improving revenue generation, and enhancing the country’s business climate. The bills were signed on Thursday at a brief but symbolic ceremony held at the Aso Rock Presidential Villa in Abuja at about 3:20pm, in the presence of top...
The reforms were designed to address Nigeria’s weak tax-to-GDP ratio, reduce the cost of tax compliance, and broaden the revenue base without increasing rates. The senate on Thursday, 8 May 2025, passed the remaining two of the four tax reform bills submitted by President Bola Tinubu in October 2024. The two bills passed at Thursday’s plenary are the Joint Revenue Board (Establishment) Bill and the Nigeria Tax Bill. Their passage marks the conclusion of the...
Upon resumption, the tax reform bills, long pending before the legislature, appeared as one of the first items addressed, signalling the urgency attached to their consideration. The senate has passed a set of long-awaited tax reform bills aimed at overhauling Nigeria’s outdated tax framework. This followed the presentation of a report by the Committee on Finance chaired by Sen. Sani Musa (APC, Niger East) during Wednesday’s plenary. The four (4) bills include the Nigeria Tax...
At Rembinar 2.0, the NCCC emphasises the role of carbon markets and climate accountability in Nigeria’s tax reform agenda. The Head of Legal Services at the National Council on Climate Change (NCCC), Awele Ikobi-Anyali, has underscored the urgent need for Nigeria’s fiscal laws and tax reforms to align with climate policy, particularly through the inclusion of a carbon tax mechanism. She made the call while representing the NCCC’s Director-General, Dr. Nkiruka Maduekwe, at the second edition...
NEITI’s Dr. Dieter Bassi highlights how fiscal reforms and EITI principles can align Nigeria’s extractive sector with clean energy goals. The Director of Policy, Planning and Strategy (PPS) at Nigeria Extractive Industries Transparency Initiative (NEITI), Dr. Dieter Ahmed Bassi, has emphasised that adopting Extractive Industries Transparency Initiative (EITI) standards can significantly strengthen transparency and accountability as Nigeria navigates its energy transition. Speaking at the second edition of the Rembinar Dialogue Series held on Monday, April...
Dr. Orji urged Nigeria to reform tax policies to drive energy transition, warning that fossil fuel bias could derail clean energy goals. The Executive Secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI), Dr. Orji Ogbonnaya Orji, has called for urgent reforms in Nigeria’s tax policies to support the country’s energy transition agenda. Speaking at the second edition of the Rembinar Dialogue Series, held on Monday, 28th April 2025, Dr. Orji described the dialogue on...
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,...
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...
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...
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...
