Senate Begins Public Hearing on Tax Reform Bills/ Vop

The Nigerian Senate has commenced a two-day public hearing on proposed tax reform bills, bringing together key stakeholders from the nation’s economic and financial sectors.

The hearing, which began on Monday, is attended by prominent figures, including the Minister of Finance and Coordinating Minister of the Economy, Wale Edun; the Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji; the Group CEO of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari; members of the Federal Executive Council; heads of relevant agencies; and the Comptroller General of Customs, Adewale Adeniyi, among others.

Chairman of the Senate Committee on Finance, Senator Sani Musa, assured that the process would be conducted transparently and in the national interest. He emphasized that the hearing aims to review and update the country’s tax laws to reflect current economic realities.

“These reforms are designed to ensure equity, fairness, and inclusivity while eliminating inefficiencies in existing tax policies,” Senator Musa stated.

He urged stakeholders and the general public to actively participate in the discussions, highlighting the importance of collective input in shaping a tax system that supports economic growth and national development.

The hearing is expected to set the stage for significant legislative adjustments aimed at strengthening Nigeria’s revenue generation framework.