Tinubu will sign four new tax bills to improve Nigeria’s tax system and economy.
The laws aim to make taxes easier, grow businesses, and increase government revenue fairly.
President Bola Ahmed Tinubu is set to sign into law four major tax reform bills on Thursday, marking a significant milestone in Nigeria’s push to modernise its fiscal framework and boost revenue generation. The bills, recently passed by the National Assembly, are expected to reshape the country’s tax system, improve the ease of doing business, and create a more investment-friendly environment.
The bills include the Nigeria Tax Bill (Ease of Doing Business), the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill. According to the Presidency, these reforms aim to simplify tax processes, unify administration procedures, and reduce the burden on taxpayers at all levels of government.
The Special Adviser to the President on Information and Strategy, Bayo Onanuga, confirmed the planned presidential assent in a statement issued on Wednesday. He noted that the signing ceremony, which will take place at the Presidential Villa in Abuja, will be attended by top government officials, including the Senate President, the Speaker of the House of Representatives, the Majority Leaders of both chambers, and the chairpersons of the finance committees from the Senate and House. Others expected at the event are the Chairman of the Nigeria Governors’ Forum, the head of the Progressives Governors’ Forum, the Minister of Finance and Coordinating Minister of the Economy, and the Attorney General of the Federation.
Onanuga described the bills as transformative in nature, saying they were the result of extensive consultations with stakeholders across various sectors. These consultations, he said, ensured that the legislation was well-grounded in both economic logic and administrative feasibility.
One of the key highlights of the reforms is the Nigeria Tax Bill, which focuses on easing the challenges businesses face in dealing with Nigeria’s complex and fragmented tax system. By consolidating existing tax laws into a single statute, the bill aims to eliminate multiple taxation, reduce duplication across agencies, and simplify compliance for businesses and individuals. This move is expected to encourage entrepreneurship, increase tax compliance, and attract more domestic and foreign investment into the Nigerian economy.
The Nigeria Tax Administration Bill is another crucial component of the reform. It seeks to establish a uniform framework for the administration of taxes across federal, state, and local government levels. The bill outlines clear procedures and responsibilities for tax authorities, aiming to reduce conflicts between different tax agencies and ensure a more coordinated and transparent system.
The Nigeria Revenue Service (Establishment) Bill will create a new and independent revenue authority with the mandate to collect taxes efficiently and fairly. This body will replace existing structures and adopt modern tools, including digital platforms, to track, assess, and collect taxes more effectively. The agency is expected to function autonomously, with a board of directors and professional staff who will be held accountable for performance.
The fourth bill, the Joint Revenue Board (Establishment) Bill, will serve as an umbrella body that coordinates tax policies and administration strategies among the three tiers of government. Its goal is to promote cooperation, share best practices, and resolve disputes that often arise in Nigeria’s highly decentralized tax system.
Collectively, the four bills represent one of the boldest overhauls of Nigeria’s tax regime in decades. They are designed to address long-standing inefficiencies, broaden the tax base, and strengthen revenue mobilization without increasing the tax burden on ordinary Nigerians.
President Tinubu’s administration has made economic reforms a top priority, and these tax bills are seen as a critical step toward achieving his Renewed Hope Agenda, which promises inclusive growth and improved public sector efficiency.
With Thursday’s expected signing, the new laws will take effect immediately, setting Nigeria on a new course of fiscal discipline, improved governance, and a more vibrant business climate.
