The Nigerian Senate has passed two of President Bola Tinubu’s four tax reform bills.
The two bills approved by the upper legislative chamber on Wednesday are the Nigeria Revenue Service (Establishment) Bill and the Joint Revenue Board (Establishment) Bill.
The development follows the Senate’s consideration of the report submitted by an ad hoc committee chaired by Senator Sani Musa, representing Niger East.
Each clause of the bills was thoroughly debated and reviewed at the Committee of the Whole.
The Senate President, Godswill Akpabio, formally announced the passage of the bills, following majority support expressed through a voice vote.
He further remarked that the remaining two bills would be concluded on Thursday, even if this necessitated extended sitting hours.
Furthermore, the senate rejected a proposal to increase the value-added tax to 10 percent, opting instead to maintain the current rate of 7.5 percent.
The remaining bills slated for consideration and passage on Thursday are the Nigeria Tax Administration Bill and the Nigeria Tax Bill.
