From Adesuwa Tsan, Abuja
The Senate has adopted the harmonised Conference Committee Report of both chambers on the four Tax Reform Bills.
This followed the consideration and subsequent approval of the recommendations by the committee set up to merge differences in the versions of the Bills passed separately by both chambers of the National Assembly.
Presenting the report to the Senate yesterday, Chairman of the Committee on Finance, Mohammed Sani Musa, who also served as the leader of the Senate delegation to the Conference Committee, highlighted the importance of the harmonised Bills in strengthening revenue generation and improving tax administration in the country.
The four tax reform Bills, which were transmitted to the National Assembly in November last year by President Bola Tinubu, include the Joint Revenue Board (Establishment) Bill, 2025 (SB. 583); the Nigeria Revenue Service (Establishment) Bill, 2025 (SB. 584); the Nigeria Tax Administration Bill, 2025 (SB. 585); and the Nigeria Tax Bill, 2025 (SB. 586).
With the Senate’s adoption of the harmonised report, the Tax Reform Bills will be transmitted for presidential assent.
In a related development, the Senate also passed the 2025 Federal Capital Territory (FCT) Statutory Appropriation Bill after a third reading. The Bill authorises a total expenditure of approximately N1.81 trillion for the FCT for the 2025 fiscal year.
The passage followed the presentation of the joint committee report by Mohammed Ibrahim.
The budget comprises personnel costs of N150.35 billion (8.29 per cent); overhead costs of N352.03 billion (19.41 per cent); and capital expenditure of N1.31 trillion (72.31 per cent). The total recurrent expenditure, consisting of both personnel and overhead costs, amounts to N502.38 billion, while capital projects take the largest share of the budget.
The joint committees explained that the budget was formulated after extensive consultations with the Minister of the FCT, Nyesom Wike, and other key officials of the Federal Capital Territory Administration (FCTA).
The spending plan is expected to drive infrastructural development, improve service delivery, and address the growing needs of residents of Abuja and its satellite towns.
During his budget defence before the Senate last Wednesday, Wike expressed deep concern over the worsening security and healthcare challenges facing the FCT, calling for urgent and coordinated national intervention. He stressed the strategic importance of Abuja as the seat of power and a diplomatic hub, stating that it requires a unique and well-structured security framework to address emerging threats.
On healthcare, the minister announced the recent acquisition of modern diagnostic equipment aimed at enhancing public health services across the territory. He noted that this acquisition represents a significant milestone in the FCT Administration’s broader plan to improve access to quality medical care for all resident.