Tinubu to sign 4 landmark tax reform bills into law

From Juliana Taiwo-Obalonye, Abuja

President Bola Tinubu is set to sign four transformative tax reform bills into law today, marking a major overhaul of Nigeria’s fiscal and revenue framework.

According to a statement by Special Adviser on Information and Strategy, Bayo Onanuga, the 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 after extensive consultations with stakeholders.

They aim to streamline tax administration, boost revenue generation, improve the business environment and attract both domestic and foreign investments.

The signing ceremony at the Presidential Villa, Abuja, will be attended by key government officials, including the Senate President, Speaker of the House, Finance Committee chairmen, the Minister of Finance and the Attorney General of the Federation.

The Nigeria Tax Bill seeks to consolidate fragmented tax laws into a single harmonised statute, reducing multiple taxes and easing compliance burdens to foster a more predictable fiscal environment.

The Nigeria Tax Administration Bill will create a uniform framework for tax administration across all government levels.

The Nigeria Revenue Service Bill will replace the Federal Inland Revenue Service Act, establishing a more autonomous and performance-driven revenue agency with an expanded mandate covering non-tax revenue and enhanced transparency and accountability measures.

The Joint Revenue Board Bill will formalise cooperation between revenue authorities at federal, state and local levels, introducing oversight mechanisms, such as a Tax Appeal Tribunal and an Office of the Tax Ombudsman.

Finance Minister, Wale Edun, described the bills as “a critical milestone in the Tinubu administration’s reform agenda,” adding, “Once signed into law, these reforms will significantly improve the efficiency and fairness of Nigeria’s tax system and nearly double the country’s tax-to-GDP ratio, which remains among the lowest globally.”