The National Assembly suggested it could approve the harmonized tax reform bills by Tuesday, following a thorough review of disputed clauses in the proposed legislation.
James Faleke, Chairman of the House Committee on Finance and leader of the House delegation for the bill harmonization exercise, disclosed this on his official X account on Sunday.
He tweeted, The conference committee established by the House and Senate to review the tax reform bills has completed its work. The joint committees thoroughly scrutinized every section, resolved ambiguities in the four bills, and addressed all contentious issues.
Following lengthy discussions that spanned Thursday night, all day Friday, and into early Saturday, I’m pleased to announce that the bills are now prepared for final approval by both the House and Senate.
I want to especially express my gratitude to the Senate conference committee, chaired by the distinguished Senator Sani Musa, Chairman of the Senate Committee on Finance, and to all members of the Senate Conference Committee.
I also want to express my heartfelt appreciation to my colleagues on the House Conference Committee, which I had the honor to lead, for their tireless dedication to the Nigerian people. Your steadfast commitment and perseverance in successfully completing this crucial task are truly admirable.
Two weeks ago, the four tax bills were handed over to the joint harmonization committee, comprising members from both the Senate and the House of Representatives, to reconcile amendments from both chambers before being submitted to President Bola Tinubu for assent.
After declaring the bills passed by a majority voice vote, Senate President Godswill Akpabio praised the lawmakers for their dedication and efforts to bring Nigeria’s tax system up to international standards.
He remarked, these four executive bills seek to reform and modernize Nigeria’s tax system.
This came shortly after the Upper Chamber approved two of the bills less than 24 hours earlier and scheduled the remaining ones for consideration on Thursday.
