President Bola Ahmed Tinubu will on Thursday, June 26, sign into law four transformative tax reform bills aimed at overhauling Nigeria’s fiscal and revenue administration system.
The bills — “Nigeria Tax Bill” “Nigeria Tax Administration Bill”, “Nigeria Revenue Service (Establishment) Bill”, and “Joint Revenue Board (Establishment) Bill” — were recently passed by the National Assembly following broad stakeholder consultations.
The signing ceremony, scheduled to take place at the Presidential Villa, Abuja, will be attended by top government officials including the Senate President, Speaker of the House of Representatives, key finance committee leaders, the Minister of Finance, and the Attorney General of the Federation.
Once enacted, the new laws are expected to streamline tax administration, improve ease of doing business, boost investor confidence, and drive increased domestic revenue generation.
One of the key highlights is the “Nigeria Tax Bill”, which consolidates various tax laws into a unified legal framework, reducing duplication and compliance burdens. Meanwhile, the “Nigeria Tax Administration Bill” introduces a uniform operational structure for tax processes across federal, state, and local governments.
The “Nigeria Revenue Service Bill” will replace the Federal Inland Revenue Service (FIRS) with a more autonomous and efficient Nigeria Revenue Service (NRS), while the “Joint Revenue Board Bill** will create formal collaboration platforms among revenue agencies, including oversight bodies like the Tax Appeal Tribunal and Tax Ombudsman.
This marks a significant milestone in the Tinubu administration’s economic reform agenda.
