Tinubu's 'Tax Reform Bill' advance Senate's second reading

The Nigerian Senate has passed four tax reform bills proposed by President Bola Tinubu for second reading, despite opposition from political leaders and stakeholders.

The decision followed a spirited debate led by Senate Majority Leader Opeyemi Bamidele on Thursday, November 28.

Bamidele emphasised the importance of the bills in addressing fiscal challenges.

“These reforms are critical to strengthening our revenue base and ensuring sustainable development,” he stated during the debate.

However, the process has not been without controversy.

Wednesday’s plenary session saw tensions rise as lawmakers engaged in a heated exchange over the bills’ sudden introduction.

The reforms were debated despite their absence from the Order Paper, a document outlining the day’s legislative agenda.

Some senators criticised the lack of transparency in the process.

“How can we discuss such critical matters without proper notice? This undermines the integrity of our legislative proceedings,” a senator remarked during the session.

Opposition from stakeholders and political figures further adds to the contentious nature of the reforms. Critics argue that the bills may impose additional burdens on citizens amidst economic hardship.

With the second reading completed, the bills now move to the committee stage for further scrutiny.

Observers await the final outcome, which could have significant implications for Nigeria’s fiscal landscape.