Tinubu signs historic Tax Reform Bills to law Thursday

 

President Bola Ahmed Tinubu will on Thursday sign into law four historic tax reform bills set to overhaul Nigeria’s fiscal landscape, streamline tax administration, and boost investor confidence.

The four 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 stakeholder consultations and technical reviews.

The ceremonial signing is scheduled to take place at the State House, Abuja.

A statement on Wednesday by Special Adviser to the President on Information and Strategy, Bayo Onanuga, described the legislation as a major step forward in President Tinubu’s economic reform agenda, with the new legal framework expected to simplify tax compliance, enhance revenue generation, and improve the overall ease of doing business in Nigeria.

“These laws will significantly transform tax administration in the country, leading to increased revenue generation, an improved business environment, and a boost in domestic and foreign investments,” the statement said.

The signing ceremony will be witnessed by key government officials including the President of the Senate, the Speaker of the House of Representatives, majority leaders of both chambers, the 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.

At the heart of the reforms is the Nigeria Tax Bill (Ease of Doing Business), designed to consolidate Nigeria’s previously fragmented and overlapping tax laws into a single, harmonised statute.

The bill seeks to eliminate multiple taxation, reduce compliance burdens on taxpayers, and create a more transparent and predictable fiscal environment.