Nigeria’s President Bola Tinubu will today sign four major tax reform bills into law, a move the presidency says will significantly reshape the country’s fiscal landscape and improve its business climate.
The announcement came on Wednesday evening from Bayo Onanuga, the president’s special adviser on information and strategy.
According to the statement, the bills which includes, e: the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill, aim to streamline tax collection, reduce bureaucracy, and increase both domestic and foreign investment.
The tax bills—passed by the National Assembly after months of consultation—seek to harmonise existing tax laws, create a more efficient national revenue service, and improve coordination among federal, state, and local tax authorities.
The presidency noted that by reducing duplication and simplifying tax administration, the new laws will help create a more predictable and business-friendly environment.
“When the new tax laws become operational, they are expected to significantly transform tax administration in the country, leading to increased revenue generation, improved business environment, and a boost in domestic and foreign investments,” Onanuga said.
President Tinubu is expected to sign the bills into law during a ceremony at the Presidential Villa in Abuja, to be witnessed by top government officials including legislative leaders, finance and legal ministers, and governors. The reforms come as part of the administration’s broader push to boost revenue, reduce Nigeria’s reliance on oil, and address persistent budget shortfalls.
The laws are also expected to strengthen transparency and accountability in revenue collection. The new national revenue agency will take over from the existing Federal Inland Revenue Service and will also be empowered to collect certain non-tax revenues.
Although praised by some economists and business leaders, the effectiveness of the reforms will depend on their enforcement and how well the new systems are integrated across government levels. The Tinubu administration says it is committed to ensuring that the implementation is smooth, efficient, and fair to all taxpayers.