President Bola Tinubu is expected to sign into law today four significant tax reform bills aimed at overhauling Nigeria’s fiscal and revenue systems. A statement released yesterday by presidential spokesperson Bayo Onanuga revealed that the bills, the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill, were approved by the National Assembly after wide-ranging consultations with stakeholders across the country.
When enacted, these laws are expected to bring about major changes in tax administration, boosting revenue collection, improving the business climate, and attracting both local and foreign investment.
One of the key reforms is the Nigeria Tax Bill (Ease of Doing Business), which “aims to consolidate Nigeria’s fragmented tax laws into a harmonized statute.” By streamlining the country’s tax framework, the bill is set to reduce multiple taxation, ease the compliance burden on taxpayers, and promote a more stable and predictable fiscal environment.
The Nigeria Tax Administration Bill, the second in the package, seeks to create a consistent legal and operational framework for tax management across all tiers of government: federal, state, and local.
The third bill, the Nigeria Revenue Service (Establishment) Bill, repeals the existing Federal Inland Revenue Service Act and replaces it with a more autonomous and performance-focused national tax body, 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.”
Completing the package is the Joint Revenue Board (Establishment) Bill, which “provides for a formal governance structure to facilitate cooperation between revenue authorities at all levels of government.” It also proposes crucial oversight tools, including “establishing a Tax Appeal Tribunal and an Office of the Tax Ombudsman.”
The signing ceremony will take place at the State House in Abuja, with dignitaries such as the Senate President, Speaker of the House of Representatives, majority leaders of both chambers, and finance and legal officials in attendance. Governors' representatives and economic stakeholders will also be present.
The National Assembly transmitted the bills to the President earlier this month, marking a pivotal step in advancing the administration’s Renewed Hope economic agenda.
Senator Yemi Adaramodu, Chairman of the Senate Committee on Media and Public Affairs, confirmed the transmission and stated, “Yes, the bill has now been transmitted. It is out of our hands and on its way to the executive.”
First introduced as executive bills in November 2024, the proposed legislation went through extensive scrutiny, revisions, and negotiation before gaining legislative approval. Adaramodu explained that the drawn-out process was necessary to ensure compliance with existing legal frameworks.
He noted, “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.”
After the harmonization process, the final versions of the bills were endorsed by both the Senate President and the Speaker of the House before being forwarded for presidential assent.