President Bola Tinubu is set to sign four comprehensive tax-reform bills into law on Thursday, a move expected to reshape Nigeria’s fiscal framework and revenue architecture. The announcement came in a statement released on Wednesday by Bayo Onanuga, Special Adviser to the President on Information and Strategy.
“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,” Onanuga stated.
Signing ceremony
The signing at the Presidential Villa, Abuja, will be witnessed by key figures, including:
• Senate President
• Speaker of the House of Representatives
• Senate and House Majority Leaders
• Chairmen of the Senate and House Committees on Finance
• Chairman of the Governors’ Forum
• Chairman of the Progressives Governors’ Forum
• Minister of Finance and Coordinating Minister of the Economy
• Attorney General of the Federation
Overview of the four bills
1. Nigeria Tax Bill (Ease of Doing Business) – Consolidates fragmented tax laws into a single statute, reduces multiple taxes, eliminates duplication, and eases compliance for businesses.
2. Nigeria Tax Administration Bill – Establishes a uniform legal and operational framework for tax administration across federal, state, and local governments.
3. Nigeria Revenue Service (Establishment) Bill – Repeals the existing Federal Inland Revenue Service Act to create an autonomous, performance-driven Nigeria Revenue Service (NRS) with an expanded mandate that now includes non-tax revenue collection, alongside clear transparency and accountability measures.
4. Joint Revenue Board (Establishment) Bill – Sets up a formal governance structure for cooperation among all revenue authorities, introduces a Tax Appeal Tribunal, and creates an Office of the Tax Ombudsman for oversight.
Background and stakeholder reactions
The four bills were passed by the National Assembly after extensive consultations with diverse stakeholders.
• Public debate was intense, with skepticism voiced by multiple groups and regions.
• In December 2024, Northern Governors rejected the bills, labeling them “anti-democracy.”
• Following the backlash, the National Economic Council asked for the draft reforms to be withdrawn for further consultations before eventual approval by lawmakers.
The Presidency expects the new legislation to streamline tax administration, widen the revenue base, and foster a more predictable and investor-friendly business climate across Nigeria.
