Nigeria’s House of Representatives has scheduled an interactive session on Monday to deliberate on President Bola Ahmed Tinubu’s tax reform bills.
The announcement was made on Sunday by Akin Rotimi, the House of Representatives’ spokesperson, who stated that the session aims to gather input and provide clarity for Nigerians and stakeholders regarding the proposed reforms.
“The session, set for Monday, November 18, 2024, at the Temporary Chamber of the House of Representatives, will commence at 10:00 am sharp,” Rotimi noted.
He explained that the discussion would offer House Members an opportunity to directly engage with key promoters of the tax reform bills from the executive branch. This interaction will allow lawmakers to seek clarification, ask critical questions, and gain a comprehensive understanding of the reforms. Such insights are essential for enhancing legislative deliberations and contributions on the bills.
Rotimi further emphasized the importance of the reforms, given their implications for fiscal policy and governance in Nigeria.
The tax reform bills have been the subject of intense debate in recent weeks. On October 3, 2024, President Tinubu submitted four bills to the National Assembly: the Nigeria Tax Bill 2024, the Tax Administration Bill, the Nigeria Revenue Service Establishment Bill, and the Joint Revenue Board Establishment Bill.
However, the proposals have faced opposition, including rejection by the Northern Nigeria Governors’ Forum and the National Economic Council, particularly regarding the value-added tax derivation model in the Nigeria Tax Bill.
Despite these challenges, President Tinubu has maintained that the bills should follow due legislative processes to incorporate necessary inputs.
Taiwo Oyedele, chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, previously stated that the reforms aim to establish a fairer tax system in Nigeria. Meanwhile, some Nigerian economists have expressed support for the bills, arguing they could significantly enhance the nation’s revenue base.