President Bola Tinubu is set to sign into law four landmark tax reform bills on Thursday, aimed at overhauling Nigeria’s fiscal and revenue systems.

 

The bills, the Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill, were passed by the National Assembly after wide-ranging consultations with stakeholders and interest groups.

 

Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, disclosed this in a statement on Wednesday.

 

According to Onanuga, the implementation of these new laws will bring about a significant transformation in tax administration across the country. The expected outcomes include higher revenue generation, a more business-friendly environment, and increased domestic and foreign investment.

 

The signing ceremony at the Presidential Villa in Abuja will be attended by key political and economic figures, including the Senate President, Speaker of the House of Representatives, Senate and House Majority Leaders, Chairmen of the Senate and House Finance Committees, the Chairman of the Nigerian Governors’ Forum, the Minister of Finance, and the Attorney General of the Federation.

 

Each bill serves a specific reform purpose:

 

Nigeria Tax Bill (Ease of Doing Business): Aims to harmonize fragmented tax laws, reduce the burden of multiple taxes, and create a more predictable tax environment to boost business operations.

 

Nigeria Tax Administration Bill: Establishes a unified legal and operational framework for tax administration across federal, state, and local governments.

 

Nigeria Revenue Service (Establishment) Bill: Replaces the existing Federal Inland Revenue Service (FIRS) with a more autonomous and efficient Nigeria Revenue Service (NRS), expanding its mandate to include non-tax revenue and reinforcing transparency and accountability.

 

Joint Revenue Board (Establishment) Bill: Creates a formal platform for collaboration among revenue authorities at all government levels. It also introduces critical oversight bodies, including a Tax Appeal Tribunal and an Office of the Tax Ombudsman.

 

 

The reforms represent a strategic effort by the Tinubu administration to simplify Nigeria’s tax system, drive growth, and ensure fiscal sustainability.