President Bola Ahmed Tinubu has signed into law four major tax reform bills aimed at reshaping Nigeria’s revenue system, promoting transparency, and ensuring efficient tax administration across all levels of government.
The newly enacted laws include the Nigeria Tax Bill, Nigerian Tax Administration Bill, National Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.
Speaking at the signing ceremony held at the Presidential Villa in Abuja, Tinubu described the development as a bold step towards creating a stable, transparent, and efficient tax structure that reduces dependence on oil revenue and fosters national development.
“These laws will provide clarity, efficiency, and coordination across our tax system,” Tinubu said. “They are part of our broader reform plan to stabilize revenue, promote fairness, and fund vital infrastructure and social services.”
The reforms will establish the National Revenue Service as the central agency to enforce tax compliance and manage revenue collection, while the Joint Revenue Board is expected to strengthen coordination between federal and state tax authorities, addressing longstanding gaps and inefficiencies in the system.
Economic experts have applauded the move, noting that the reforms are in line with international standards and will improve Nigeria’s Ease of Doing Business rating. Businesses and investors have also expressed optimism about the clarity and predictability the new tax structure is expected to bring.
The bills are products of months of stakeholder consultations involving the Federal Ministry of Finance, Tax Reform Committee, and the National Assembly.
With the new laws in place, the Federal Government has promised a transparent, technology-driven implementation process that will involve capacity-building for relevant agencies.
The Tinubu administration said the reforms are key to building an economy driven by internally generated revenue, reducing vulnerability to external shocks, and unlocking long-term growth, jobs, and shared prosperity for Nigerians.
