Tinubu Signs Four Tax Reform Bills Into Law

President Bola Tinubu has officially signed into law four major tax reform bills recently passed by the National Assembly, in a move the Presidency says will overhaul Nigeria’s fiscal framework and drive economic growth.

The signing ceremony took place on Thursday at the Presidential Villa, Abuja, in the presence of top government officials including the Senate President, Speaker of the House of Representatives, principal officers of the National Assembly, governors, ministers, and presidential aides.

The new laws include:

1. Nigeria Tax Bill (Ease of Doing Business)

2. Nigeria Tax Administration Bill

3. Nigeria Revenue Service (Establishment) Bill

4. Joint Revenue Board (Establishment) Bill

According to the Presidency, these laws are designed to significantly enhance tax administration in Nigeria, simplify the tax structure, and encourage both domestic and foreign investment. They are also expected to increase government revenue and improve transparency and accountability in revenue collection.

Key highlights of the tax bills include:

• The Nigeria Tax Bill consolidates Nigeria’s fragmented tax laws into a single, harmonized statute, aiming to reduce the number of taxes and remove duplication. This is expected to improve ease of doing business and reduce the compliance burden on taxpayers.

• The Nigeria Tax Administration Bill creates a unified legal and operational framework for tax administration across all levels of government—federal, state, and local—ensuring consistency and fairness in the tax system.

• The Nigeria Revenue Service (Establishment) Bill replaces the Federal Inland Revenue Service (FIRS) with a new, autonomous Nigeria Revenue Service (NRS), expanding its mandate beyond tax collection to include all government revenue. It also introduces performance benchmarks and enhanced oversight.

• The Joint Revenue Board (Establishment) Bill sets up a formal coordination structure between federal and sub-national revenue authorities. It also establishes a Tax Appeal Tribunal and a Tax Ombudsman to handle disputes and complaints, promoting accountability and taxpayer confidence.

The bills were passed after months of stakeholder consultations with tax experts, business leaders, civil society, and development partners.

Details later…