The North Journals
The House of Representatives has scheduled a public hearing on tax reform bills for February 26, 2025, in a move aimed at gathering community input on proposed changes to Nigeria’s tax system. Speaker Tajudeen Abbas made the announcement during Tuesday’s plenary, emphasizing the need for broad-based contributions to shape a more effective and business-friendly tax regime.
A 36-member Special Committee has been set up to oversee the hearing, ensuring expert insights into tax administration and the economic impact of the reforms. The committee, chaired by Rep. Abiodun Faleke, with Seidu Abdullahi as deputy, includes experienced lawmakers such as Alhassan Ado-Doguwa, Nicholas Mutu, Fred Agedi, and Idu Igariwey.
The proposed tax reforms aim to streamline revenue collection, reduce bottlenecks for businesses, and enhance government efficiency in mobilizing funds for national development. Lawmakers believe public engagement is key to ensuring that the reforms benefit both individuals and businesses while fostering economic growth.
Stakeholders, including business owners, financial experts, and the general public, are encouraged to participate in the hearing and share their perspectives. The House leadership has assured Nigerians of a transparent and inclusive legislative process.
Why This Matters
Taxation remains a critical pillar of Nigeria’s economy, influencing business operations, government revenue, and overall national development. With economic diversification a key priority, experts argue that reforming tax policies will enhance investor confidence, boost job creation, and improve fiscal discipline.
As the hearing date approaches, the spotlight is on lawmakers and stakeholders to ensure that the final legislation addresses the concerns of Nigerians while promoting sustainable economic growth.
