Stakeholders debate Nigeria’s tax reform bills as Senate opens hearing

The Senate has commenced a two-day public hearing on proposed tax reform bills, gathering key stakeholders from Nigeria’s economic and financial sectors to deliberate on crucial changes to the nation’s tax laws.

Present at the hearing are 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, and the Comptroller General of Customs, Adewale Adeniyi, among other top government officials.

Chairman of the Senate Committee on Finance, Senator Sani Musa, assured Nigerians that the hearing would be "transparent and guided by national interest."

He emphasised that the proposed reforms seek to modernise the country’s tax system in line with current economic realities.

“The goal is to ensure equity, fairness, and inclusivity while addressing inefficiencies in our existing tax policies,” Senator Musa stated.

He further highlighted that the reforms are crucial for creating a business-friendly environment that fosters economic growth.

Urging all stakeholders and the general public to engage actively in the discussions, Musa stressed the significance of collective input in “shaping a tax system that supports national prosperity.”

The hearing is expected to feature robust debates on tax administration, revenue generation, and strategies for enhancing fiscal transparency in Nigeria.