President Bola Tinubu is set to sign into law four critical tax reform bills this Thursday, a move expected to revolutionize Nigeria’s fiscal and revenue systems, the Presidency has announced.
Special Adviser to the President on Information and Strategy, Bayo Onanuga, confirmed the development in a statement released Wednesday evening titled, “President Tinubu signs four tax bills into law tomorrow.” 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.
Okay.ng reports that these bills were passed by the National Assembly following extensive consultations with various stakeholders and interest groups over several months. The reforms aim to streamline tax administration, boost revenue generation, and create a more investor-friendly environment.
Onanuga explained, “When the new tax laws become operational, they are expected to significantly transform tax administration in the country, leading to increased revenue generation, improved business environment, and a boost in domestic and foreign investments.”
The signing ceremony will take place at the Presidential Villa in Abuja and will be attended by top government officials, including the Senate President, Speaker of the House of Representatives, Senate Majority Leader, House Majority Leader, and the chairpersons of the Senate and House Committees on Finance.
Also expected to witness the event are the Chairman of the Governors Forum, Abdulrahman Abdulrazaq of Kwara State; Chairman of the Progressives Governors Forum, Hope Uzodinma of Imo State; the Minister of Finance and Coordination Minister of the Economy, Wale Edun; and the Attorney General of the Federation, Lateef Fagbemi.
Among the bills, the Nigeria Tax Bill (Ease of Doing Business) seeks to consolidate Nigeria’s fragmented tax laws into a single harmonized statute. The Presidency noted, “By reducing the multiplicity of taxes and eliminating duplication, the bill will enhance the ease of doing business, reduce taxpayer compliance burdens, 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 governments, ensuring consistency and efficiency.
The Nigeria Revenue Service (Establishment) Bill repeals the existing Federal Inland Revenue Service Act and creates a more autonomous, performance-driven national revenue agency—the Nigeria Revenue Service (NRS). This bill expands the NRS’s mandate to include non-tax revenue collection, while instituting mechanisms for transparency, accountability, and efficiency.
Finally, the Joint Revenue Board (Establishment) Bill provides a formal governance structure to foster cooperation among revenue authorities at all government levels. It introduces oversight mechanisms such as a Tax Appeal Tribunal and an Office of the Tax Ombudsman to address taxpayer grievances.
This historic legislative milestone is expected to reshape Nigeria’s tax landscape and strengthen the country’s economic foundations.
