President Bola Tinubu will sign four major tax reform bills into law this Thursday. These laws aim to reshape Nigeria’s tax system, boost government revenue, and attract investors.
The Special Adviser to the President on Information and Strategy, Bayo Onanuga, confirmed this in a statement on Wednesday.
What’s Changing?
The bills are designed to simplify taxes, reduce duplication, and improve how taxes are collected across all levels of government. Once signed, they will bring major changes to tax operations in the country.
Top government officials, including the Senate President, Speaker of the House, and finance leaders, will witness the signing at the Presidential Villa in Abuja.
The Four Bills Explained
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Nigeria Tax Bill (Ease of Doing Business):
This bill merges Nigeria’s many tax laws into one. It reduces the number of taxes businesses face and makes compliance easier. -
Nigeria Tax Administration Bill:
It creates a single, clear system for managing taxes at the federal, state, and local levels. -
Nigeria Revenue Service (Establishment) Bill:
This replaces the current FIRS law. It sets up a new, independent revenue agency called the Nigeria Revenue Service (NRS). The agency will also handle non-tax revenue and must follow strict rules for accountability. -
Joint Revenue Board (Establishment) Bill:
This law encourages teamwork between tax agencies at all levels. It also creates a Tax Appeal Tribunal and a Tax Ombudsman to handle complaints and disputes.
Pushback and Public Debate
These bills were passed after many meetings with business groups, lawmakers, and citizens. However, they have not been without controversy.
Last December, some northern governors rejected the reforms, calling them undemocratic. As a result, the National Economic Council asked for the bills to be reviewed. The process was delayed to allow more consultation.
What’s Next?
Now, with consultations completed and the bills approved by the National Assembly, President Tinubu is moving forward. On Thursday, he will sign the bills into law—marking a major shift in how Nigeria handles taxes.
These reforms are expected to make it easier to do business in Nigeria, improve transparency, and increase confidence in the economy.
