Nigerians Welcome Tax Reforms-Says Sani Musa
Abuja (Core Reporters) The Senate Committee chairman on Finance, Senator Mohammed Sani Musa has commended Nigerians who turned up on the first day of a public hearing on Tax Reforms, saying that they have agree with the tax reforms.
Sani Musa made this known on Monday in Abuja while addressing newsmen at the ongoing public hearing on the following bills; Joint Revenue Board Bill, SB. 583; Nigeria Revenue Service Establishment Bill, SB, 584, 2024; Nigerian Tax Administration Bill, SB. 585, 2024
He noted that the Tax Reform Bills aims at modernizing Nigeria’s tax system, including the taxation of cryptocurrency and online businesses.
He explained that Nigeria’s tax laws, which date back to 1959—before the country’s independence—are outdated. “We must update our laws to align with current realities, especially as technology now dominates the global economy.”
He further explained the necessity of expanding tax laws to cover digital assets and e-commerce. “We need to ensure that technology-driven sectors; cryptocurrency to online businesses, are properly taxed,” he said.
He further noted that the public hearing demonstrated widespread support for tax reforms. “Today’s (Monday) session has shown that Nigerians are willing and ready to embrace change. This reform isn’t just about taxation; it’s about ensuring the economic prosperity of our country.
“When Mr. President, His Excellency, Ahmed Bola Tinubu, GCFR, introduced this bill last year, he emphasized the need for dialogue, continuous consultations, and addressing all concerns. That’s exactly what we have done. We’ve engaged with numerous government agencies, organizations, and NGOs, all of whom have contributed their perspectives.
“The public hearing was largely seamless, with no major opposition or controversy. Instead, stakeholders focused on reviewing specific clauses and suggesting amendments, particularly concerning economic policies.
“As journalists, you have witnessed the transparency of this process. The openness of the public hearing will continue tomorrow. The key takeaway is that Nigerians agree on the need for tax reforms.
“We must align with international best practices in tax administration. Additionally, we need to review some of our outdated laws to ensure they remain relevant in today’s economic landscape,” Senator Musa, added.
Core Reporters report that the Tax Reform Bills received overwhelming support from all the stakeholders that presented their positions on the day one of the two-day public hearing organised by the senate committee on Finance.
