President Bola Tinubu will on Thursday, June 20, sign into law four groundbreaking tax reform bills aimed at overhauling Nigeria’s fiscal and revenue systems, the Presidency has announced.
In a statement released Wednesday evening, Special Adviser to the President on Information and Strategy, Bayo Onanuga, said the bills are designed to “transform Nigeria’s fiscal and revenue framework” and significantly improve the business environment and government revenue collection.
The four bills – Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill—were passed by the National Assembly following extensive consultations with stakeholders.
According to Onanuga, the new laws will modernize tax administration, reduce the burden on taxpayers, and attract both domestic and foreign investments.
“The Nigeria Tax Bill (Ease of Doing Business) consolidates fragmented tax laws into a single, harmonised statute to reduce the multiplicity of taxes and streamline compliance,” he noted.
The Nigeria Tax Administration Bill introduces a uniform legal and operational framework for tax administration across federal, state, and local governments.
The Nigeria Revenue Service (Establishment) Bill repeals the existing FIRS Act and creates a more autonomous and efficient national tax agency—the Nigeria Revenue Service—with expanded powers, including non-tax revenue collection, alongside transparency and performance standards.
The final bill, the Joint Revenue Board (Establishment) Bill, sets up a national coordination body to facilitate cooperation among revenue agencies across all levels of government. It also introduces key oversight institutions like a Tax Appeal Tribunal and an Office of the Tax Ombudsman.
The signing ceremony, scheduled for the Presidential Villa, will be witnessed by top government officials, including the Senate President, House Speaker, Finance Minister Wale Edun, Attorney General Lateef Fagbemi, Governors Forum Chairman Abdulrahman Abdulrazaq, and Progressives Governors Forum Chairman Hope Uzodinma.