President Bola Tinubu will today sign into law four groundbreaking tax reform bills that would transform Nigeria’s fiscal and revenue framework.
According to a statement issued yesterday 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 following extensive consultations with various stakeholders and interest groups.
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, the Nigeria Tax Bill (Ease of Doing Business), seeks to consolidate Nigeria’s previously fragmented tax laws into a single, harmonized statute.
By reducing the number of taxes and eliminating duplication, the bill is designed to streamline tax processes, ease compliance for taxpayers, and establish 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).
The new agency’s mandate includes not just tax collection but also the mobilization of non-tax revenues. It sets out provisions to ensure greater transparency, accountability, and operational efficiency.
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
Today’s historic signing ceremony at the State House in Abuja will be witnessed by several top government officials, including the Senate President, the Speaker of the House of Representatives, the Senate and House Majority Leaders, and the Chairmen of the Senate and House Committees on Finance.
Others expected to attend are 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.
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.
Senator Yemi Adaramodu, Chairman of the Senate Committee on Media and Public Affairs, confirmed the transmission to journalists about a week ago. He stated that the harmonisation process between the Senate and the House of Representatives had been concluded, allowing the bills to proceed to the executive for final action.
“Yes, the bill has now been transmitted. It is out of our hands and on its way to the executive,” Adaramodu said.
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 emphasized 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 also credited the efforts of joint committees, legal review teams, and documentation units for shaping the final versions of the bills.
After the harmonization process, the final documents were formally signed by the Senate President and the Speaker of the House before being sent to the President for assent.
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