Tinubu to Sign Four Major Tax Reform Bills Thursday

President Bola Ahmed Tinubu will on Thursday sign into law four major tax reform bills aimed at overhauling Nigeria’s fiscal framework, simplifying tax administration, and boosting investor confidence.

The bills — the Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill — were recently passed by the National Assembly following extensive consultations with stakeholders and technical experts.

The signing ceremony is scheduled to hold at the State House in Abuja and will be attended by key government figures, including the President of the Senate, the Speaker of the House of Representatives, majority leaders from both chambers, the chairmen of the relevant finance committees, leaders of the Nigeria Governors’ Forum and Progressives Governors’ Forum, as well as the Ministers of Finance and Justice.

In a statement on Wednesday, the President’s Special Adviser on Information and Strategy, Bayo Onanuga, described the bills as a significant step in Tinubu’s economic reform drive. He said the new laws are expected to improve tax compliance, enhance revenue collection, and create a more attractive environment for business and investment.

According to him, the Nigeria Tax Bill seeks to unify the country’s multiple and often overlapping tax laws into a single, coherent framework. It is aimed at eliminating double taxation, reducing compliance burdens on businesses, and creating a more transparent tax system.

The Nigeria Tax Administration Bill provides a standard legal and operational structure for tax administration across federal, state, and local governments, helping to streamline procedures and prevent jurisdictional conflicts.

The Nigeria Revenue Service (Establishment) Bill replaces the existing Federal Inland Revenue Service (FIRS) Act and establishes a new national body — the Nigeria Revenue Service (NRS). The NRS will have expanded responsibilities covering both tax and non-tax revenue collection, and will operate under stricter rules for transparency and accountability.

The Joint Revenue Board (Establishment) Bill is designed to improve collaboration among tax authorities across all levels of government. It also establishes mechanisms such as a Tax Appeal Tribunal and a Tax Ombudsman to ensure fairness and resolve disputes involving taxpayers.

The reforms are a core part of the Tinubu administration’s broader efforts to improve governance, attract investment, and drive economic growth.