President Bola Tinubu has signed into law four major tax reform bills that could redefine Nigeria’s fiscal landscape.
The signing, which took place at the Presidential Villa in Abuja, was attended by top political and economic figures, including the Senate President, House Speaker, Minister of Finance Wale Edun, and Attorney General Lateef Fagbemi.
The four bills—Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and Joint Revenue Board (Establishment) Bill—were passed by the National Assembly following months of consultations with stakeholders across federal, state, and private sectors.
The new tax law seeks to consolidate Nigeria’s previously fragmented tax codes into a unified statute. It is expected to reduce the multiplicity of taxes, cut compliance costs for businesses, and enhance the ease of doing business in Nigeria, which is one of the administration’s top economic priorities.
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Meanwhile, the Nigeria Tax Administration Bill will standardise tax collection procedures at federal, state, and local levels, ending decades of disjointed practices that have frustrated taxpayers and reduced efficiency.
The Nigeria Revenue Service (Establishment) Bill replaces the current Federal Inland Revenue Service (FIRS) with a more autonomous and reform-driven Nigeria Revenue Service (NRS). It expands the agency’s mandate to include non-tax revenue collection, and embeds new standards for transparency, performance, and accountability.
Lastly, the Joint Revenue Board (Establishment) Bill introduces a formal governance structure for inter-agency cooperation and includes provisions for critical oversight mechanisms like a Tax Appeal Tribunal and an Office of the Tax Ombudsman.
Taken together, these reforms are positioned to not only widen Nigeria’s tax base but also restore confidence among local and international investors.
