President Bola Tinubu has signed into law four major tax reform bills aimed at overhauling Nigeria’s fiscal and revenue framework.
The signing ceremony took place at the Aso Rock Presidential Villa in Abuja at about 3:20 p.m. on Thursday.
The four bills include the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill. These bills were passed by the National Assembly following extensive consultations with various stakeholders and interest groups.
According to a statement by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, the new laws are expected to significantly improve tax administration in Nigeria, boost revenue generation, enhance the business environment, and attract both domestic and foreign investments.
The ceremony was witnessed by key political figures including the Senate President, Speaker of the House of Representatives, Senate Majority Leader, House Majority Leader, Chairmen of the Senate and House Committees on Finance, and several state governors.
Also present were the Chairman of the Nigeria Governors’ Forum, Abdulrahman Abdulrazaq of Kwara State; Chairman of the Progressives Governors Forum, Hope Uzodinma of Imo State; Minister of Finance and Coordinating Minister of the Economy, Wale Edun; and the Attorney General of the Federation, Lateef Fagbemi.
One of the key reforms, the Nigeria Tax Bill (Ease of Doing Business), seeks to harmonize Nigeria’s previously fragmented tax laws, reducing the number of taxes and eliminating duplication. This, according to the Presidency, will reduce the burden of compliance on taxpayers and create a more predictable fiscal environment.
The Nigeria Tax Administration Bill will establish a uniform legal and operational framework for tax administration across federal, state, and local levels.
The Nigeria Revenue Service (Establishment) Bill repeals the existing Federal Inland Revenue Service Act and creates a new, more autonomous Nigeria Revenue Service (NRS), with expanded responsibilities including non-tax revenue collection. It also introduces measures to enhance transparency, accountability, and operational efficiency.
The Joint Revenue Board (Establishment) Bill creates a formal governance structure to enable coordination between revenue authorities at all levels. It also establishes a Tax Appeal Tribunal and an Office of the Tax Ombudsman to oversee complaints and disputes.
These reforms are seen as part of the government’s broader efforts to modernize Nigeria’s fiscal system and strengthen economic governance.
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