ABUJA, NIGERIA – The Two-Day Public Hearing on the Proposed Tax Reform Bills commenced today, marking a significant step toward reshaping Nigeria’s revenue system for economic growth and national development.
Declaring the hearing open, Senate President, Senator Godswill Obot Akpabio emphasized the urgent need for tax modernization, efficiency, and fairness to ensure sustainable development.
ALSO READ: ASUU Opposes Tax Reform Bill, Says It Will Cripple Nation’s Educational…
“We gather at a pivotal moment, one that calls us to reform, modernize, and optimize our tax system. This is not just a task; it is a profound responsibility we must embrace with courage, wisdom, and a steadfast commitment to the Nigerian people,” Senator Akpabio stated.
The hearing, attended by lawmakers, tax administrators, business leaders, and civil society representatives, provides a platform for inclusive dialogue on the proposed bills—SB 583, SB 584, SB 585, and SB 586.
In a social media post, Senator Akpabio said these bills are designed to:
Harmonize revenue administration across all tiers of government.
Reduce the cost of tax collection while enhancing compliance.
Promote transparency and accountability in tax administration.
Leverage digital innovation to simplify tax payments and close loopholes.
Protect vulnerable taxpayers while fostering economic growth.
Acknowledging the challenges posed by outdated tax practices and bureaucratic inefficiencies, Senate President Akpabio underscored the need for collaboration between federal, state, and local governments, as well as the private sector.
“The challenge before us transcends the simple act of passing new laws; it is about constructing a tax system that inspires confidence, promotes development, and fuels national growth,” he asserted.
The 10th National Assembly, Senator Akpabio assured, remains committed to enacting legislative reforms that will strengthen the economy, empower businesses, and enhance government accountability.
The hearing continues tomorrow, with stakeholders expected to make further submissions on the proposed reforms.