President Bola Ahmed Tinubu on Thursday signed into law four landmark tax reform bills aimed at restructuring Nigeria’s revenue system and strengthening fiscal transparency, marking a significant milestone in his administration’s economic reform agenda.
The signing ceremony took place at the Presidential Villa, Abuja, with key national figures in attendance, including the Senate President, House Speaker, principal officers of both chambers, state governors, and senior federal government officials.
The Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and Joint Revenue Board (Establishment) Bill—were passed by the National Assembly following extensive stakeholder consultations across sectors.
President Tinubu described the laws as central to building “a modern, transparent, and efficient tax system that supports inclusive national development, promotes investment, and eliminates the burden of multiple taxation.”
Breakdown of the Reforms:
Nigeria Tax Bill (Ease of Doing Business): Consolidates various tax statutes into a single framework, aimed at reducing duplication and simplifying compliance for businesses and individuals.
Nigeria Tax Administration Bill: Establishes a unified structure for tax operations across federal, state, and local governments, promoting harmonized and efficient tax practices nationwide.
Nigeria Revenue Service (Establishment) Bill: Replaces the Federal Inland Revenue Service (FIRS) with a new, performance-driven Nigeria Revenue Service (NRS) empowered to collect both tax and non-tax revenues. It introduces mechanisms to boost transparency and accountability.
Joint Revenue Board (Establishment) Bill: Sets up a coordinating body to align tax collection efforts across all tiers of government. It also creates a Tax Appeal Tribunal and an Office of the Tax Ombudsman to safeguard taxpayer rights and strengthen dispute resolution.
Analysts and stakeholders have hailed the reforms as a critical step toward boosting investor confidence, enhancing government revenue, and ensuring a fairer tax environment for Nigerians. The bills are also expected to spur job creation, improve public service delivery, and support Nigeria’s economic recovery efforts.
The reforms are part of Tinubu’s broader economic strategy to stabilize the macroeconomy, attract investments, and lay the groundwork for long-term growth through effective governance and fiscal discipline.
