In a move hailed as a major milestone in Nigeria’s economic reform agenda, President Bola Ahmed Tinubu will on Thursday sign into law four transformative tax reform bills aimed at reshaping the country’s fiscal and revenue landscape.
According to Bayo Onanuga, Special Adviser to the President on Information and Strategy, the four bills — the 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 following “extensive consultations with various interest groups and stakeholders.”
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“President Bola Tinubu will, on Thursday, sign into law four groundbreaking tax reform bills that will transform Nigeria’s fiscal and revenue framework,” Onanuga announced in a statement released on Wednesday.
The historic signing ceremony is expected to take place at the Presidential Villa in Abuja, with key dignitaries in attendance. These include the Senate President, Speaker of the House of Representatives, Senate and House Majority Leaders, Chairmen of the Finance Committees in both chambers, the Chairman of the Governors Forum, Chairman of the Progressives Governors Forum, Minister of Finance and Coordinating Minister of the Economy, and the Attorney General of the Federation.
Describing the significance of the legislation, Onanuga noted that the bills are designed to streamline Nigeria’s fragmented tax system, improve revenue collection, and foster a conducive environment for both local and foreign investors.One of the four bills, the Nigeria Tax Bill (Ease of Doing Business), is particularly aimed at harmonizing Nigeria’s numerous and often conflicting tax laws.
“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,” Onanuga explained.
The Nigeria Tax Administration Bill, the second in the reform package, introduces a uniform legal and operational framework for tax administration across all tiers of government — federal, state, and local. This, experts believe, will reduce bureaucratic inefficiencies and conflicting tax regimes that have long plagued Nigeria’s fiscal system.
The third bill, the Nigeria Revenue Service (Establishment) Bill, repeals the existing Federal Inland Revenue Service (FIRS) Act. It creates the Nigeria Revenue Service (NRS), a more autonomous and performance-driven national revenue agency.
“It defines the NRS’s expanded mandate, including non-tax revenue collection, and lays out transparency, accountability, and efficiency mechanisms,” Onanuga stated.
Analysts view this move as a bold step towards curbing leakages and boosting Nigeria’s non-oil revenue base.The fourth bill, the Joint Revenue Board (Establishment) Bill, will introduce a formal governance structure to facilitate cooperation among revenue authorities across all levels of government. It also provides for critical oversight tools.
“It introduces essential oversight mechanisms, including establishing a Tax Appeal Tribunal and an Office of the Tax Ombudsman,” Onanuga said.
Once enacted, these laws are expected to increase national revenue generation, simplify tax compliance for businesses, and boost investor confidence. The reforms also align with President Tinubu’s broader economic blueprint aimed at repositioning Nigeria as a leading investment destination in Africa.
Observers from the finance and business sectors have commended the administration’s effort, viewing the reforms as long overdue and essential for fiscal sustainability.
With the signing scheduled for Thursday, stakeholders across the country will be watching closely as Nigeria takes what could be a decisive step toward tax system modernization and economic revival.
