President Bola Tinubu has signed into law four landmark tax reform bills aimed at overhauling Nigeria’s complex and fragmented tax system, signalling a major shift in the country’s fiscal landscape.
The signing ceremony, held on Thursday at the Presidential Villa, Abuja, marked what Tinubu called a “bold and foundational shift” in Nigeria’s approach to taxation and revenue generation.
The newly enacted laws are designed to streamline tax administration, eliminate duplication, and enhance transparency, fairness, and investor confidence in the system.
The four bills signed into law are:
- Nigeria Tax Bill (Fair Taxation)
- Nigeria Tax Administration Bill
- Nigeria Revenue Service (Establishment) Bill
- Joint Revenue Board (Establishment) Bill
One major outcome of the reforms is the transformation of the Federal Inland Revenue Service (FIRS) into the newly established Nigeria Revenue Service (NRS)—a more autonomous, performance-driven body with an expanded mandate to manage both tax and non-tax revenue.
The tax reforms are part of President Tinubu’s broader economic strategy to create a more efficient, predictable, and business-friendly fiscal environment, while also improving revenue mobilization at all levels of government.
