Senate Begins Public Hearing On Tax Reform Bills Monday

ABUJA- The Senate will next Monday and Tuesday conduct a public hearing on tax reform bills forwarded to both chambers of the National Assembly by President Bola Tinubu in October

Addressing journalists yesterday in Abuja, Chairman of the Senate Committee on Finance, Senator Sani Musa, APC, Niger East, after a closed-door meeting held with members of the committee, said it would come after wide consultations with relevant stakeholders.

Senator Musa said the bills on Joint Revenue Board establishment bill and Nigerian Revenue Services Bill would be deliberated upon on Monday, while the one on the Nigerian Tax Administration and Nigeria Tax bill would be focused upon on Tuesday.

According to him , for thorough consideration of the bills that are designed to change the dynamics of the nation’s economy, the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, the Attorney-General of the Federation, and Minister of Justice, Lateef Fagbemi, SAN, and Chairman of Federal Inland Revenue Service, FIRS, Zacch Adedeji , would be at the public hearing.

Also expected to attend are the Statistician General of the Federation and Chief Executive, National Bureau of Statistics, Prince Adeyemi Adeniran, the Minister of Petroleum and his counterpart in the Ministry of Trade and Investment etc.

He said: “The committee is inviting Nigerians, totalling 71 different groups of stakeholders for the very important public hearing.

“Both the Senate and the House of Representatives have done the second reading on the reform bills and are ready for the public hearing .

“The bills have been read by all members of the committee with better understanding of what they are aimed at, such as in the areas of tax administration, collection and operations in Nigeria.

“The main purpose of the reform bills is to see to how government will generate more revenue, so we’ll be able to put our country on the pedestal of advanced economies where infrastructure, education, agricultural and virtually every sector that revolves around the ecosystem of economy will be adequately taken care of.

“Expectedly, we have had engagements with a lot of stakeholders before arriving at where we are today, and I believe that the public hearing is going to go on smoothly, and wherever the grey areas are, they will be addressed .

“Mr. President himself has severally that he’s not going to interfere. It is our duty as legislators to do the needful for the good of this country.

“ We are all representatives of different tribes, religion, geographic history, but we are Nigerians. And what we will work towards giving Nigeria are laws, legislations that will put us on track economically, and by the grace of God, I think we will succeed.”

Before the closed door session, the committee met top management of the Ministry of Finance Incorporated, MOFI, led by its Managing Director and Chief Executive Officer, Dr Armstrong Tokang, who was directed to provide the committee the National Assets Register of the country .