President Bola Tinubu has signed into law four significant tax reform bills aimed at transforming Nigeria’s tax administration system, enhancing revenue generation, and improving the overall business environment.
The signing ceremony took place at the Presidential Villa in Abuja on Wednesday afternoon, with top government officials and lawmakers in attendance.
The newly signed bills are the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill. They were passed by the National Assembly following several months of consultation with stakeholders and interest groups.
According to a statement from the Presidency, the new laws are expected to simplify tax processes, reduce the burden of compliance for taxpayers, and encourage both domestic and foreign investment.
“The new tax laws are designed to consolidate Nigeria’s fragmented tax laws into a harmonised structure, thereby reducing the multiplicity of taxes and enhancing the ease of doing business,” the statement read.
The Nigeria Tax Administration Bill seeks to provide a unified legal and operational framework for tax administration at the federal, state, and local government levels.
The Nigeria Revenue Service (Establishment) Bill replaces the existing Federal Inland Revenue Service Act and creates a more autonomous and performance-driven agency to oversee national tax collection. It also expands the agency’s responsibilities to include the collection of non-tax revenues.
The Joint Revenue Board (Establishment) Bill aims to promote cooperation between revenue authorities at all levels and establishes a formal governance structure. It also introduces oversight mechanisms such as the Tax Appeal Tribunal and the Office of the Tax Ombudsman to ensure transparency and resolve tax-related disputes.
President Tinubu signed the bills in the presence of Senate President Godswill Akpabio, Speaker of the House of Representatives Tajudeen Abbas, the majority leaders of both chambers, and the chairmen of the finance committees.
Also present were Governor Abdulrahman Abdulrazaq of Kwara State, who is the Chairman of the Nigeria Governors’ Forum; Governor Hope Uzodinma of Imo State, Chairman of the Progressive Governors’ Forum; Minister of Finance and Coordinating Minister of the Economy, Wale Edun; and the Attorney General of the Federation, Lateef Fagbemi.
The reforms are part of the Federal Government’s broader efforts to modernise Nigeria’s fiscal framework and create a more efficient and equitable tax system.
