FG Invites Stakeholders’ Proposals for Finance Bill 2027, Seeks Fiscal Transparency, Accountability
Kayode Tokede The federal government has invited members of the public, businesses, investors, professional bodies, civil society organisations, academia, public institutions, and other stakeholders to submit proposals for the finance
The Nigerian federal government has called on various stakeholders, including the public, businesses, investors, professional bodies, civil society organizations, academia, public institutions, and other parties, to submit proposals for the Finance Bill 2027. The Federal Ministry of Finance outlined that these submissions should concentrate on legislative or regulatory reforms to enhance Nigeria's fiscal framework, boost the business and investment climate, improve fiscal transparency and accountability, and contribute to sustainable economic growth.
The government's invitation follows previous consultation efforts on draft Finance Bills, notably in 2020 and 2022, where feedback was gathered from a diverse range of stakeholders through technical committees and the National Economic Council.
Proposals under consideration for the Finance Bill 2027 cover various fiscal policy and management areas, including revenue and expenditure management, budgeting, public financial management, fiscal sustainability, public debt, and intergovernmental fiscal relations. Stakeholders are encouraged to identify specific laws and provisions that require amendment and offer proposed drafting language.
The ministry also solicits proposals on fiscal policy and management, capital markets, investment, cross-border capital flows, anti-money laundering regulations, financial reporting, and other regulations with substantial fiscal or economic implications.
The 2027 initiative marks a significant shift from earlier consultation methods, as it now invites the public to submit proposals for inclusion in the legislation, providing a structured mechanism for translating these suggestions into potential amendments. This approach builds upon the Finance Acts that have progressively modified the tax system, with each bill addressing key revenue and economic issues.
Recent examples of such legislation include VAT increases, adjustments to corporate tax rates, digital company taxes, and levies on imports. The deadline for submitting proposals is set for Friday, September 11, 2026.
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