President Bola Ahmed Tinubu has signed into law four critical tax reform bills aimed at overhauling Nigeria’s tax administration system, streamlining revenue processes, and enhancing the country’s investment climate.
The bills, Nigeria Tax Bill (Ease of Doing Business), Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill, were recently passed by the National Assembly following wide consultations with stakeholders across sectors.
The historic signing ceremony took place at the Presidential Villa, Abuja, with key national figures in attendance, including the Senate President, Speaker of the House of Representatives, Majority Leaders of both chambers, Chairmen of the Senate and House Committees on Finance, the Chairman of the Nigeria Governors’ Forum, the Progressives Governors’ Forum, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele Chairman, Presidential Committee on Fiscal Policy and Tax Reforms and the Attorney General of the Federation.
The Nigeria Tax Bill, dubbed the Ease of Doing Business Act, seeks to consolidate Nigeria’s fragmented tax laws into a unified and simplified legal framework, reducing compliance burdens and improving predictability for businesses.
The Tax Administration Bill establishes a standardised operational and legal framework across federal, state, and local governments, ensuring coherence in tax management nationwide.
The Nigeria Revenue Service (Establishment) Bill repeals the FIRS Act and establishes a more autonomous, efficient, and accountable revenue body—the Nigeria Revenue Service (NRS)—with an expanded mandate to also oversee non-tax revenue collection.
Lastly, the Joint Revenue Board (Establishment) Bill creates a structured governance platform for collaboration among all tiers of government. It also introduces key accountability structures such as a Tax Appeal Tribunal and an independent Office of the Tax Ombudsman.
These sweeping reforms are expected to bolster government revenue, reduce the multiplicity of taxes, enhance investor confidence, and foster a more transparent and business-friendly fiscal environment in Nigeria.
