By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: Tinubu to Senate on Tax Reform Law: “Go And do The Needful, Give me a Law That is Workable”
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
News

Tinubu to Senate on Tax Reform Law: “Go And do The Needful, Give me a Law That is Workable”

Oluwadara Akingbohungbe
By Oluwadara Akingbohungbe
Published: February 24, 2025
Share
4 Min Read
Bola Tinubu
President Bola Tinubu
SHARE

In a decisive move to advance Nigeria’s fiscal landscape, President Bola Tinubu has called upon the Senate to deliver effective legislation from the tax reform bills he submitted four months prior.

This appeal was highlighted during a public hearing organized by the Senate Committee on Finance in Abuja on Monday, where various stakeholders expressed their positions on the proposed reforms.

The tax reform package comprises four key bills: the Nigeria Tax Bill 2024, the Nigerian Tax Administration Bill 2024, the Nigeria Revenue Service Establishment Bill 2024, and the Joint Revenue Board Bill 2024.

Senator Sani Musa, Chairman of the Senate Committee on Finance, conveyed President Tinubu’s directive during his opening remarks at the hearing.

- Advertisement -

“I met President Bola Ahmed Tinubu two days ago regarding the tax reform bills, and he told me, ‘Mr. Chairman, Senate Committee on Finance, go and do the needful. Give me a law that is workable from the tax reform bills I forwarded to the Senate and House of Representatives in October last year,'” Senator Musa recounted.

The public hearing marked a significant shift in the discourse surrounding the bills. Initially met with resistance, particularly in the House of Representatives, the session saw a convergence of support from various quarters.
Senate President Godswill Akpabio, who inaugurated the hearing, underscored the necessity of a unified approach to revenue generation.

“The challenge before us transcends merely passing new laws; it is about constructing a tax system that inspires confidence, promotes development, and fuels national growth,” Akpabio stated.

Finance Minister and Coordinating Minister of the Economy, Wale Edun, addressed concerns about the potential impact of the reforms.

- Advertisement -

He emphasized that the proposed laws aim to modernize outdated tax statutes to enhance efficiency, equity, and economic growth, rather than imposing additional burdens on the populace.

“The tax reform bills, as repeatedly explained since their introduction last year, aim to modernize our archaic tax laws to enhance efficiency, equity, and economic growth,” Edun explained.

Mele Kyari, Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), lent his voice in favor of the reforms.

He articulated that the oil and gas sector perceives the proposed changes as essential for fostering economic advancement through a more streamlined and effective tax collection system.

“The proposed tax reform bills are a crucial enhancement for economic growth through a more efficient and effective tax collection mechanism,” Kyari noted.

In a notable development, Mohammed Shehu, Chairman of the Revenue Mobilization Allocation and Fiscal Commission (RMAFC), who had previously expressed reservations, announced his endorsement of the bills.

He suggested modifications concerning the distribution of Value Added Tax (VAT) to sub-national entities to ensure a more equitable allocation.

“RMAFC supports the proposed tax reforms but recommends adjustments in the area of Value Added Tax (VAT) distribution to sub-nationals,” Shehu proposed.

Addressing allegations of regional opposition, Muhammad Alhaji Yakubu, convener of the Arewa Think Tank, refuted claims that the northern region was against the reforms.

He clarified that, upon thorough evaluation, the northern stakeholders recognize the benefits of the proposed laws and have been actively informing their communities.

“It is untrue that the North opposes the tax reform bills. We have assessed their benefits and have sensitized our people accordingly,” Yakubu affirmed.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:NigeriaSenateTax Reform Billtinubu
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
Previous Article Tinubu Assures of Federal Government commitment to $2bn Broadband Expansion
Next Article Grammy-Winning Star, Roberta Flack, Beloved Singer of ‘The First Time Ever I Saw Your Face,’ Dies at 88

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Exchange Rate

Okay.ng Logo
Buy Rate ₦1,605.00
Sell Rate ₦1,620.00

Last updated: 3 days ago (June 3, 2025 2:33 pm)

Displayed rates are for informational purposes only and are subject to change.

USD/NGN Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Dangote Names Main Refinery Access Road “Bola Ahmed Tinubu Road” in Honor of President
News
L-R: Ify Okoye, Digital Creator; Linda Ejiofor-Suleiman, Actress; Stella Erebor, Head Internal Audit, Nigerian Communications Commission; Emanuella Samuel, Comedienne/Actress, Sylvia Musalagani, Safety Policy Manager, Africa, Middle East & Turkey (AMET), Meta, and Nicole Chikwe, founder of The Mummy Summit, during the launch of Instagram teen accounts in Lagos on Wednesday, June 4, 2025
Meta Launches Teen Accounts on Instagram in Nigeria to Enhance Online Safety for Young Users
Tech
President Tinubu and Top Officials Attend Eid-el-Kabir Prayers in Lagos, Emphasize Peace and Progress
News
Elon Musk’s Net Worth Plummets $34 Billion Amid Explosive Feud with Donald Trump
International
BREAKING: Akwa Ibom Governor Pastor Umo Eno Defects from PDP to APC in Strategic Political Shift
Politics Top stories
- Advertisement -
Ad imageAd image

You May Also Like

NewsTop stories

BREAKING: Former Chief Justice of Nigeria, Mohammed Uwais, Passes Away at 89

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 6, 2025
International

Russia Launches Deadly Drone and Missile Strikes Across Ukraine Following Ukrainian Attacks on Russian Bomber Fleet

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 6, 2025
Top stories

MTN Nigeria Doubles ICT Industry Average with 41.4% Female Workforce Representation

Muhammad A. Aliyu
Muhammad A. Aliyu
June 6, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?