The National Assembly has completed its legislative process on four key tax reform bills, forwarding the final versions to President Bola Tinubu for his signature. The transmission marks the culmination of months of deliberation since the executive branch first submitted the proposals last year.
Senator Yemi Adaramodu (APC, Ekiti South), Chairman of the Senate Committee on Media and Public Affairs, confirmed the development during a press briefing in Abuja. “Yes, the bill has now been transmitted. It is out of our hands and on its way to the executive,” Adaramodu stated.
The legislative journey saw robust debates in both chambers before final passage on May 25, followed by a harmonization process to reconcile differences between the Senate and House versions.
Adaramodu explained the meticulous review process, saying: “Tax bills like these require careful scrutiny. Legal departments in both chambers must ensure they align with existing laws before we send them to the Presidency.”
The senator detailed the procedural timeline: “It’s not a matter of two or three days. After harmonisation, the Clerk of the National Assembly prepares the final document. Only then can the Senate President and the Speaker sign off for transmission.”
The reforms, which aim to modernize Nigeria’s tax regime, now await presidential action. Observers suggest the bills could significantly impact revenue generation and economic policy if signed into law. The executive branch had prioritized the legislation as part of its broader economic transformation agenda.
With the bills now before the president, stakeholders across business and government sectors anticipate potential changes to fiscal policy that could reshape Nigeria’s economic landscape in the coming years.
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