President Bola Tinubu will on Thursday, June 26, sign into law four major tax reform bills aimed at overhauling Nigeria’s fiscal and revenue systems, the Presidency has announced.
The update was disclosed in a statement issued Wednesday evening by Bayo Onanuga, Special Adviser to the President on Information and Strategy, titled “President Tinubu signs four tax bills into law tomorrow.”
According to Onanuga, the four bills—Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and Joint Revenue Board (Establishment) Bill—are designed to streamline tax administration, boost revenue generation, and create a more investment-friendly environment.
These bills were passed by the National Assembly after extensive consultations with industry stakeholders and policy experts.
“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 statement said.
Key Attendees at the Signing Ceremony
The official signing at the Presidential Villa in Abuja will be witnessed by top government officials, including:
- Senate President
- Speaker of the House of Representatives
- Senate and House Majority Leaders
- Chairmen of the Senate and House Committees on Finance
- Governor Abdulrahman Abdulrazaq (Chairman, Nigeria Governors Forum)
- Governor Hope Uzodinma (Chairman, Progressives Governors Forum)
- Minister of Finance and Coordinating Minister of the Economy, Wale Edun
- Attorney-General of the Federation, Lateef Fagbemi
Breakdown of the Four Bills
1. Nigeria Tax Bill (Ease of Doing Business)
This bill seeks to harmonize Nigeria’s fragmented tax laws into a single, streamlined statute. It aims to reduce the multiplicity of taxes, eliminate duplication, and simplify compliance—enhancing the ease of doing business and creating a more predictable tax environment.
2. Nigeria Tax Administration Bill
This bill establishes a unified legal and operational framework for tax administration at the federal, state, and local government levels, promoting consistency, fairness, and cooperation across jurisdictions.
3. Nigeria Revenue Service (Establishment) Bill
This bill repeals the existing Federal Inland Revenue Service (FIRS) Act and establishes the more autonomous and performance-driven Nigeria Revenue Service (NRS). The new agency will have a broader mandate, including non-tax revenue collection, and will operate under stricter accountability, transparency, and efficiency guidelines.
4. Joint Revenue Board (Establishment) Bill
The bill establishes a formal governance body to coordinate tax efforts among federal, state, and local revenue authorities. It also creates new oversight tools such as the Tax Appeal Tribunal and the Office of the Tax Ombudsman to ensure fairness and resolve disputes efficiently.
These reforms mark a critical milestone in the Tinubu administration’s efforts to modernize Nigeria’s fiscal architecture and promote sustainable economic growth.
