The Nigerian Senate has announced the formation of a ten-member committee tasked with meeting the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, to address contentious issues in the tax reform bills submitted by President Bola Tinubu.
Deputy Senate President Jibrin Barau, presiding over Wednesday’s plenary session, disclosed that the committee would work with the Attorney General to address the concerns raised by stakeholders.
This decision comes as part of efforts to ensure the bills reflect the broader interests of Nigerians, after proceedings on the tax reform bills were halted.
Senator Jibrin disclosed that a special committee has been formed to address the contentious provisions in the bills. He emphasised the importance of collaboration between the Senate and the executive arm of government, stating that both sides are committed to resolving disagreements amicably.
Barau acknowledged the public outcry over the tax reforms, stating that the Senate aims to resolve these issues through constructive dialogue and consensus. “The Senate is composed of men and women of wisdom, entrusted with the responsibility to legislate for peace and national development,” he added.
Barau reiterated the Senate’s commitment to promoting stability, inclusivity, and transparency in the legislative process. He noted that while the economic challenges Nigeria faces are significant, the legislative arm remains focused on ensuring that any proposed solutions are fair and sustainable.
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The crucial meeting with the AGF is scheduled to take place on Thursday, December 5, 2024, to resolve the contentious issues concerning the proposed tax bills.
This decision followed intense discussions among lawmakers aimed at resolving disagreements over key aspects of the proposed legislation.
The contentious provisions have sparked debates among stakeholders over the past few days.
Additionally, the Senate leadership announced plans for a special meeting to be chaired by the Minority Leader, at the National Assembly.
The session is intended to provide a platform for lawmakers to harmonise their positions, ensuring the bill aligns with national priorities while addressing concerns raised by stakeholders.
The special committee tasked with resolving the issues has is chaired by Senator Abba Moro while Senators Tahir Monguno, Adamu Aliero, Orji Uzor Kalu, Seriake Dickson, Titus Zam, Yahaya Abdullahi, Solomon Adeola, Sani Musa and Mukhail Abiru are members.
Their primary goal is to examine the contentious clauses in the bills, particularly issues such as the derivative clause and VAT sharing formula, which have sparked widespread criticism. The committee, along with the Senate leadership, is expected to lead efforts to ensure a balanced and inclusive approach to the proposed tax legislation.
