Nigeria’s House of Representatives, on Tuesday, passed for third reading, the four tax reform bills sent to the National Assembly in October 2024 by President Bola Ahmed Tinubu.
Recall that the House had, at plenary last Thursday, considered and approved the report of the House Committee on Finance that worked on the bills and the submissions received from Nigerians.
The four tax reform bills—including the Nigeria Tax Bill 2024, the Tax Administration Bill, the Nigeria Revenue Service Establishment Bill, and the Joint Revenue Board Establishment Bill—sent to the National Assembly have been the subject of controversies in the past months.
The bills had generated series of controversy with Northern Leaders, the Nigeria Governors Forum and other interest groups opposing some sections of the bills.
Accordingly, the House Committee retained the value-added tax at 7.5 percent instead of the proposed 15 percent.