President Bola Ahmed Tinubu will, today Thursday, sign into law four tax reform bills expected to transform Nigeria’s fiscal and revenue framework.
According to a release issued on Wednesday by presidential spokesperson, Bayo Onanuga, the four bills, the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill, were passed by the National Assembly after extensive consultations with various interest groups and stakeholders.
When the new tax laws become operational, they are expected to significantly transform tax administration in the country, leading to increased revenue generation, improved business environment, and a boost in domestic and foreign investments.
One of the four bills is the Nigeria Tax Bill (Ease of Doing Business), which aims to consolidate Nigeria’s fragmented tax laws into a harmonised statute.
By reducing the multiplicity of taxes and eliminating duplication, the bill will enhance the ease of doing business, reduce taxpayer compliance burdens, and create a more predictable fiscal environment.
The second bill, the Nigeria Tax Administration Bill, will establish a uniform legal and operational framework for tax administration across federal, state, and local governments.
The Nigeria Revenue Service (Establishment) Bill, the third bill, repeals the current Federal Inland Revenue Service Act and creates a more autonomous and performance-driven national revenue agency— the Nigeria Revenue Service (NRS). It defines the NRS’s expanded mandate, including non-tax revenue collection, and lays out transparency, accountability, and efficiency mechanisms.
The fourth bill is the Joint Revenue Board (Establishment) Bill.
It provides for a formal governance structure to facilitate cooperation between revenue authorities at all levels of government.
It introduces essential oversight mechanisms, including establishing a Tax Appeal Tribunal and an Office of the Tax Ombudsman.
The historic presidential assent to the bills at the State House, 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.
The Chairman of the Governors Forum, the Chairman of the Progressives Governors Forum, the Minister of Finance and Coordination Minister of the Economy, and the Attorney General of the Federation will also attend the ceremony.
The National Assembly had this month transmitted the landmark tax reform bills to President Tinubu for assent.
The development marks a critical phase in the implementation of the administration’s Renewed Hope economic agenda.
Chairman of the Senate Committee on Media and Public Affairs, Senator Yemi Adaramodu, who confirmed the transmission to newsmen about a week ago, disclosed that the harmonisation process between the Senate and the House of Representatives had been concluded, paving the way for the final legislative action.
“Yes, the bill has now been transmitted. It is out of our hands and on its way to the executive,” Adaramodu had stated.
Originally submitted as Executive Bills in November 2024, the bills underwent rigorous scrutiny, multiple revisions, and intense negotiations before being passed by both chambers.
Adaramodu emphasised the necessity of the extended legislative process.
He said, “Tax legislation of this magnitude requires detailed examination. Our legal departments had to ensure alignment with existing statutes before the final transmission to the Presidency.
“It’s not something that happens in two or three days,” he explained.
He noted the role of joint committees, legal review teams, and document aggregation in shaping the final drafts.
Following the harmonisation, the final documents were signed by the Senate President and the Speaker of the House before being sent to the Presidency.
