President Bola Tinubu has signed into law four major tax reform bills passed by the National Assembly. The signing ceremony was held at the Presidential Villa on Thursday.
Present at the event were Senate President Godswill Akpabio, House Speaker Tajudeen Abbas, majority leaders, and finance committee chairmen. Governors Abdulrazaq AbdulRahman of Kwara and Hope Uzodimma of Imo also attended.
Others included the Minister of Finance, Wale Edun, and the Attorney General of the Federation, Lateef Fagbemi.
The new laws are part of the government’s effort to modernise Nigeria’s tax system and promote economic growth. Officials said the bills were developed after consultations with key stakeholders.
President Tinubu explained that the laws aim to simplify taxation, improve revenue collection, and reduce the burden on families and small businesses.
“We are laying a foundation for a tax regime that is fair, transparent and fit for a modern, ambitious Nigeria,” he said.
What the New Tax Laws Aim to Achieve
The four laws include the Nigeria Tax Bill, the Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.
Each law addresses a specific area of Nigeria’s fragmented and often inefficient tax system.
The Nigeria Tax Bill consolidates existing tax statutes and seeks to eliminate multiple taxation. The bill aims to make it easier for individuals and businesses to understand and comply with tax rules.
The Tax Administration Bill creates a uniform structure for tax collection at the federal, state, and local government levels. It is expected to improve coordination and reduce conflicts in tax collection.
The Revenue Service (Establishment) Bill replaces the current FIRS law. It creates a new Nigeria Revenue Service with broader powers, including the collection of non-tax revenues.
The Joint Revenue Board law sets up a national body to coordinate tax activities across all levels of government.
The new law also establishes a Tax Appeal Tribunal and a Tax Ombudsman’s office to resolve disputes and protect taxpayer rights.
President Tinubu said the reforms are about more than increasing revenue.
“These reforms go beyond streamlining tax codes. They deliver the first major, pro-people tax cuts in a generation,” he said. “They offer relief to low-income earners, small businesses, and families working hard to make ends meet.”
A Push for Transparency, Efficiency, and Growth
According to State House officials, the bills are part of a wider reform package aimed at restoring investor confidence and promoting transparency.
President Tinubu explained that for too long, the country’s tax system had been too complex and burdensome for most Nigerians.
“For too long, our tax system has been a patchwork — complex, inequitable, and burdensome,” he said. “It has weighed down the vulnerable and shielded inefficiency. That era ends today.”
He also said the tax laws would help create a system that “rewards enterprise, protects the vulnerable, and mobilises revenue without punishing productivity.”
On his official X handle, the president added: “We are also building a framework for the Nigeria of tomorrow — leaner, fairer and laser focused on unlocking opportunities for all.”
The government hopes the reforms will promote better service delivery, job creation, and long-term economic stability. Experts say the bills mark a turning point in Nigeria’s fiscal structure.
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