The House of Representatives has begun a public hearing on the proposed Tax Reform Bills, allowing stakeholders to provide input on the legislation. Speaker Dr. Tajudeen Abbas, represented by House Majority Leader Professor Julius Inhonvbere, emphasized that the reforms aim to enhance Nigeria’s tax system, boost revenue, and create a favorable business environment.
House Committee on Finance Chairman James Faleke noted that outdated tax laws necessitate reforms to reduce reliance on borrowing. Stakeholders urged lawmakers to prioritize citizens’ interests in finalizing the bills.
Meanwhile, the Senate also launched a two-day hearing on the reforms, which have sparked debates. Some critics argue the bills favor Lagos and Rivers States, but the Presidency refuted this, stating the reforms are designed to benefit all Nigerians.
