The Senate has passed the remaining two tax reform bills, completing legislative approval for all four key components of Nigeria’s sweeping tax policy overhaul. These bills now proceed to the harmonisation phase, where a joint conference committee of the Senate and House of Representatives will reconcile any differences before forwarding the final versions to President […]

In a significant fiscal shift set to enhance state revenues and reshape Nigeria’s tax framework, the Senate has passed two of four critical tax reform bills. These include a new Value Added Tax (VAT) revenue-sharing formula, though the VAT rate remains unchanged at 7.5%. Under the revised formula, the Federal Government’s share of VAT will