Tinubu to sign four landmark Tax Reform Bills into law Thursday

By Kazeem Ugbodaga

President Bola Tinubu is set to sign four landmark tax reform bills into law on Thursday, in a bold move to overhaul Nigeria’s fiscal and revenue landscape.

The bills, recently passed by the National Assembly following extensive stakeholder engagement, are poised to reshape the country’s tax system, improve revenue mobilisation, and enhance the ease of doing business.

The four 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.

Each bill targets a specific area of reform, from streamlining tax legislation to enhancing intergovernmental revenue coordination.

The ceremonial signing, which will take place at the Presidential Villa in Abuja, is expected to be witnessed by high-ranking government officials, including the Senate President, Speaker of the House of Representatives, Senate and House Majority Leaders, Chairmen of the Senate and House Committees on Finance, the Chairman of the Nigeria Governors Forum, the Chairman of the Progressives Governors Forum, the Minister of Finance and Coordinating Minister of the Economy, and the Attorney General of the Federation.

One of the key highlights of the reform package is the Nigeria Tax Bill, which seeks to consolidate Nigeria’s often fragmented tax legislation into a harmonised legal framework.

The bill aims to reduce the multiplicity of taxes and eliminate overlapping jurisdictions, thereby lowering compliance costs for businesses and fostering a more predictable and efficient tax environment.

The Nigeria Tax Administration Bill introduces a unified legal and operational structure for tax administration across the federal, state, and local levels of government. The bill is expected to streamline tax processes, improve consistency, and support collaboration among tax authorities.

Another critical piece of legislation, the Nigeria Revenue Service (Establishment) Bill, repeals the existing Federal Inland Revenue Service (FIRS) Act and establishes a new, autonomous agency—the Nigeria Revenue Service (NRS). This restructured body will not only oversee tax collection but also take charge of non-tax revenue streams. The bill embeds key governance principles such as transparency, accountability, and performance-based operations into the new agency’s mandate.

The fourth bill, the Joint Revenue Board (Establishment) Bill, seeks to institutionalise cooperation among revenue authorities across all tiers of government. It provides for the establishment of a robust governance structure to coordinate fiscal matters nationally.

Importantly, the bill introduces vital oversight mechanisms, including the creation of a Tax Appeal Tribunal and the Office of the Tax Ombudsman to ensure taxpayers’ rights are protected and disputes are resolved efficiently.

Collectively, these legislative reforms represent a major stride in President Tinubu’s economic agenda, with the overarching goal of fostering fiscal sustainability, promoting investor confidence, and stimulating inclusive growth.

The bills, once signed into law, are expected to lay the foundation for a more efficient and transparent tax system—positioning Nigeria for long-term prosperity.