Tinubu Set to Sign Four Landmark Tax Bills into Law to Reform Nigeria’s Fiscal System

Tinubu Set to Sign Four Landmark Tax Bills into Law to Reform Nigeria’s Fiscal System

President Bola Ahmed Tinubu is expected to sign four major tax reform bills into law today, marking a significant shift in Nigeria’s fiscal and revenue administration framework.

According to a statement released yesterday by Bayo Onanuga, Special Adviser to the President on Information and Strategy, the bills represent transformative steps that will enhance revenue generation, simplify tax procedures and improve Nigeria’s investment climate.

The four bills — the Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill and the Joint Revenue Board (Establishment) Bill — were passed by the National Assembly following wide-ranging consultations with stakeholders.

Onanuga explained that the new tax regime would lead to a more transparent and efficient system that supports business growth and boosts both domestic and foreign investments.

“The historic presidential assent to the bills at the Presidential Villa, Abuja, will be witnessed by the Senate President, Speaker of the House of Representatives, Senate Majority Leader, House Majority Leader, Chairman of the Senate Committee on Finance and his House counterpart,” he said.

Dignitaries expected at the signing ceremony include the Chairman of the Nigeria Governors’ Forum, Chairman of the Progressives Governors’ Forum, the Minister of Finance and Coordinating Minister of the Economy, and the Attorney General of the Federation.

Among the four bills, the Nigeria Tax Bill (Ease of Doing Business) stands out as a key effort to unify Nigeria’s complex tax laws into one harmonized statute. The bill aims to reduce overlapping taxes and compliance burdens while making the tax environment more predictable for businesses.

The Nigeria Tax Administration Bill seeks to establish a consistent legal and operational framework for managing taxes across federal, state and local governments.

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The Nigeria Revenue Service (Establishment) Bill repeals the Federal Inland Revenue Service Act and replaces it with a more autonomous and performance-based Nigeria Revenue Service (NRS). The bill also expands the NRS’s mandate to include non-tax revenue collection, while incorporating mechanisms for greater transparency and accountability.

Lastly, the Joint Revenue Board (Establishment) Bill introduces a formal governance structure to enhance collaboration among tax authorities at all government levels. It also establishes key oversight bodies, including a Tax Appeal Tribunal and an Office of the Tax Ombudsman.

These legislative changes signal a bold step by the Tinubu administration toward comprehensive tax reform and economic revitalization.