By Michael Agbaji
The Chairman Senate Committee on Finance, sen.Sani Musa says, the proposed tax reform bills is the opportunity given to Stakeholders toward the nation’s economic transformation.
Sen Musa made remarks during the public hearing on the bill on Monday , which he described as a testament to the country’s readiness for systemic reforms..
While Speaking to journalists immediately after the program, Senator Musa emphasized that the bill transcends mere tax adjustments, calling it a “pathway to economic prosperity.” He referenced President Ahmed Bola Tinubu’s directive for extensive consultations to address concerns and refine the legislation.
“When Mr. President presented this initiative last year, he stressed dialogue and collaboration to resolve all grey areas. We have engaged agencies, NGOs, and stakeholders, and today’s proceedings reflect that inclusive approach,” Musa stated.
The hearing, marked by what the senator termed “transparent and open” deliberations, saw minimal opposition or regional dissent. Attendees reportedly focused on scrutinizing clauses and proposing amendments rather than ideological clashes. “No section of the country rejected the bill. Nigerians agree that reforming tax administration is imperative,” Musa noted, adding that reforms would align Nigeria with global best practices.
Declaring open the event Senate president Sen Godswill Akpabio say the tax reform bills is targeted at any region but is the reform aims to enhance the ta system in Nigeria.
According to him,two days public hearing is ensured that all stakeholders is giving opportunity to expressed themselves and also have the insight about the bills.
He urged all Nigeria to see the reform as part of economic transformation of president Tinubu major away towards the economy recovering.
According to him Technology dominates today’s economy. Our laws must ensure sectors such as crypto and online enterprises contribute their fair share.”
The bills’ provisions aim to streamline tax collection, enhance compliance, and expand the tax net to capture Nigeria’s evolving digital economy. Musa assured that consultations would continue on Tuesday,, urging journalists and citizens to monitor the process’s transparency.
President Tinubu’s administration has positioned the tax overhaul as central to its economic agenda, aiming to boost revenue and curb inefficiencies. With bipartisan backing and stakeholder collaboration, the bill is poised for further legislative scrutiny before a potential enactment later this year.
Among those in attendance were the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, the Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, the Group CEO of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, members of the Federal Executive Council, heads of relevant agencies, and the Comptroller General of Customs, Adewale Adeniyi, among others.
