Tinubu set to sign landmark tax reform bills into law Thursday

President Bola Ahmed Tinubu is expected to sign into law four historic tax reform bills on Thursday, marking a significant step toward reshaping Nigeria’s fiscal framework and enhancing investor confidence.

The bills Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill were recently passed by the National Assembly after comprehensive stakeholder engagements and technical evaluations.

The ceremonial signing is scheduled to take place at the State House, Abuja

A statement on Wednesday by Special Adviser to the President on Information and Strategy, Bayo Onanuga, described the legislation as a major step forward in President Tinubu’s economic reform agenda, with the new legal framework expected to simplify tax compliance, enhance revenue generation, and improve the overall ease of doing business in Nigeria.

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“These laws will significantly transform tax administration in the country, leading to increased revenue generation, an improved business environment, and a boost in domestic and foreign investments,” the statement said.

The signing ceremony will be witnessed by key government officials including the President of the Senate, the Speaker of the House of Representatives, majority leaders of both chambers, the chairmen of the Senate and House Committees on Finance, the Chairman of the Nigeria Governors’ Forum, the Chairman of the Progressives Governors’ Forum, the Minister of Finance and Coordinating Minister of the Economy, and the Attorney General of the Federation.

At the heart of the reforms is the Nigeria Tax Bill (Ease of Doing Business), designed to consolidate Nigeria’s previously fragmented and overlapping tax laws into a single, harmonised statute.

The bill seeks to eliminate multiple taxation, reduce compliance burdens on taxpayers, and create a more transparent and predictable fiscal environment.

The second bill, the Nigeria Tax Administration Bill, introduces a uniform operational and legal framework for tax administration across federal, state, and local governments.

It aims to standardise procedures and reduce conflicts in the collection and management of taxes at various levels of government.

Also to be signed is the Nigeria Revenue Service (Establishment) Bill, which repeals the current Federal Inland Revenue Service (FIRS) Act.

It establishes a new, autonomous national revenue agency the Nigeria Revenue Service (NRS) with a broadened mandate.

In addition to tax collection, the NRS will also be responsible for the collection of non-tax revenues, operating under a strengthened regime of transparency, accountability, and performance benchmarks.

The fourth legislation, the Joint Revenue Board (Establishment) Bill, creates a formal institutional framework to foster cooperation and coordination among revenue authorities at all tiers of government.

It introduces new accountability structures, including the establishment of a Tax Appeal Tribunal and an Office of the Tax Ombudsman, to ensure fairness in tax enforcement and resolution of taxpayer grievances.