Today, President Bola Tinubu will sign into law four tax reform bills aimed at transforming Nigeria’s fiscal and revenue framework.
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.
According to Statehouse press release signed 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.
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.
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.
Here are the four Tax Bills to be signed into:
1. Nigeria Tax Bill (Ease of Doing Business)
One of the four tax reform 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.
2. Nigeria Tax Administration Bill
The second among the tax reform bills , the Nigeria Tax Administration Bill, will establish a uniform legal and operational framework for tax administration across federal, state, and local governments.
3. Nigeria Revenue Service (Establishment) Bill
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.
4. Joint Revenue Board (Establishment) Bill
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.
