3rd October 2024, NewsOrient, News Law And Society, Governance And Development, Business And Economy

Nigeria’s President, Asiwaju Bola Ahmed Tinubu has formally approached the Senate to seek consideration and passage of a proposed Fiscal Policy and Tax Reform Bill. He said the bill will align with “ongoing financial reforms of the Federal Government and enhance efficiency in tax compliance.”

The House of Representatives also received four bills forwarded by the President. They include the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Establishment Bill and the Joint Revenue Board Establishment Bill.

A report in Channels Television said that on October 1, 2024, during President Tinubu’s speech on Nigeria’s 64th Independence Anniversary, he said some Economic Stabilisation Bills would be transmitted to the National Assembly.

He said: “We are moving ahead with our fiscal policy reforms. To stimulate our productive capacity and create more jobs and prosperity, the Federal Executive Council approved the Economic Stabilisation Bills, which will now be transmitted to the National Assembly.

These transformative bills will make our business environment more friendly, stimulate investment and reduce the tax burden on businesses and workers once they are passed into law,” he said.”

~ NewsOrient

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