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The Senate is poised to prioritize the evaluation and approval of President Bola Tinubu’s tax reform legislation when it reconvenes after its recess on April 29.
The four proposed bills, Nigerian Tax Bill, Tax Administration Bill, Revenue Tax Board Bill, and Nigerian Revenue Service Establishment Bill were submitted by the President to enhance the country’s financial regulations and increase revenue generation.
The delay in passing these bills has raised alarms, particularly following the House of Representatives’ approval of the measures two weeks ago, increasing pressure on the Senate.
Previously, Chairman of the Senate Committee on Media and Publicity, Yemi Adaramodu, indicated that there was a possibility of passing the bills before the senators took a break.
He noted, "I believe you are aware that the House of Reps has approved them. We are unlikely to encounter any conflicts or disagreements. However, I cannot specify a date for its passage, but it will happen soon, likely before our recess."
Despite this, the Senate went into recess without any discussion of the bills, leading to speculation about potential issues. An insider at the legislative complex informed our correspondent that the Senate might not have finished consulting with northern senators regarding the finalization of the bills.
"We suspect that there is still ongoing dialogue to secure agreement from all northern senators concerning the amendments made to the tax reform legislation. However, we are hopeful that this will be resolved. If the House of Reps, often perceived as a hindrance, has approved the bills, we are confident the Senate will follow suit," the source remarked.
Nonetheless, lawmakers have guaranteed that the bills will receive proper attention upon their return.
Chairman of the South-East Senate Caucus and representative for Abia South, Enyinnaya Abaribe, eased concerns about a potential deadlock.
He clarified that the bills hadn’t been officially presented to the senators yet and promised that they would be addressed when legislative business resumes.
"They haven’t been brought to us. Since they weren’t brought today and we are adjourning, perhaps we will see them upon our return," Abaribe noted.
In a similar vein, Senator Osita Izunaso from Imo West conveyed optimism that the tax reform bills will be a top priority upon the Senate's return. "It will be one of the primary issues we will tackle as soon as we come back," he affirmed.
