Senate Forms Committee to Review Tax Reform Bills with AGF

The Nigerian Senate establishes a committee to collaborate with the Attorney General of the Federation (AGF) on reviewing tax reform bills, aiming to refine and implement effective fiscal policies.

On Wednesday, the Senate established a committee to review the contentious Tax Reform Bills currently before the National Assembly.

The Committee, led by Minority Leader Senator Abba Moro (PDP, Benue South), will hold a meeting with the Attorney General of the Federation, Lateef Fagbemi. Their discussion aims to clarify unclear aspects in the bills before reporting back to the Senate ahead of the public hearing.

During the plenary session on Wednesday, Deputy Senate President Barau Jibrin revealed this information.

Barau, who led the session, stated that the executive branch of the government concurred with the Senate on the necessity to address all issues causing disagreements in these bills.

Barau mentioned that they chose to set aside politics, ethnicity, and regionalism to come together and address the issues surrounding the tax reform bills. He noted that their discussions led them to involve the executive branch of government in order to establish a forum where disagreements can be resolved. This collaborative effort aims at ensuring national unity as they work towards solving these problems.

Prior to the introduction of these bills, we have encountered several challenges: insecurity that both we and the president have been striving to address, as well as economic issues aligned with global financial difficulties. Additionally, we’ve agreed not to permit any other factors that might worsen our country’s problems.

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Based on this understanding, both the executive and ourselves have agreed to establish a forum that will meet with the Attorney General of the Federation. This forum aims to address all areas of disagreement and find resolutions in the nation’s best interest.

It is proposed that a meeting with the committee be scheduled for tomorrow, where they will convene with the Attorney General to discuss and resolve these issues. Consequently, it has been decided that the Committee on Finance should temporarily halt action on public hearings and other matters until these concerns are addressed.

On October 3, 2024, President Bola Ahmed Tinubu submitted four tax reform bills to the National Assembly.

The proposed Tax Reform Bills have sparked significant controversy since their introduction in the National Assembly, encountering strong resistance particularly from the northern region of the country.

Amidst the controversies arising from the bills, the National Economic Council advised President Bola Tinubu to withdraw them for further consultations. However, he declined and insisted that they should proceed through the standard legislative processes.

Last week, the Senate passed the bills for a second reading through voice votes.

The proposed legislation aims to align, organize, and address conflicts related to revenue management in Nigeria.