by Nigerian News24 Correspondents
President Bola Tinubu has signed into law four key tax reform bills aimed at overhauling Nigeria’s fiscal and revenue systems. The signing took place at the Aso Rock Presidential Villa in Abuja on Thursday at approximately 3:20 PM local time.
The newly signed legislation includes the following:
- Nigeria Tax Bill (Ease of Doing Business)
- Nigeria Tax Administration Bill
- Nigeria Revenue Service (Establishment) Bill
- Joint Revenue Board (Establishment) Bill
These bills were passed by the National Assembly after extensive consultations with stakeholders and interest groups nationwide.
According to Presidential spokesperson Bayo Onanuga, the implementation of these new laws is expected to bring sweeping changes to tax administration in Nigeria. The reforms aim to boost revenue generation, improve the business climate, and attract both domestic and foreign investments.
Top government officials were present at the signing ceremony, including the Senate President, Speaker of the House of Representatives, Senate and House Majority Leaders, and the chairmen of both chambers’ finance committees. Also in attendance were Kwara State Governor Abdulrahman Abdulrazaq (Chairman of the Governors Forum), Imo State Governor Hope Uzodinma (Chairman of the Progressives Governors Forum), Finance Minister Wale Edun, and Attorney General Lateef Fagbemi.
Highlights of the Four Tax Bills:
- Nigeria Tax Bill (Ease of Doing Business):
Seeks to harmonize the country’s fragmented tax laws into a single, unified statute. The aim is to reduce multiple taxation, cut down on duplication, ease compliance for taxpayers, and foster a more predictable tax environment. - Nigeria Tax Administration Bill:
Establishes a standardized legal and operational framework for tax administration across all levels of government—federal, state, and local—ensuring consistency and better coordination. - Nigeria Revenue Service (Establishment) Bill:
Replaces the existing Federal Inland Revenue Service Act with a more autonomous and performance-oriented Nigeria Revenue Service. The agency’s expanded mandate now includes the collection of non-tax revenue and is underpinned by new standards for transparency, accountability, and efficiency. - Joint Revenue Board (Establishment) Bill:
Sets up a formal governance body to improve collaboration among federal, state, and local revenue authorities. It also introduces crucial oversight features, such as the establishment of a Tax Appeal Tribunal and a Tax Ombudsman Office.