President Bola Tinubu on Thursday signed four tax reform bills into law, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, the Nigeria Tax Bill, and the Joint Revenue Board (Establishment) Bill.
The bills which focus are on Nigeria’s fiscal and revenue framework, were signed into law by the President at the Aso Rock Presidential Villa, Abuja.
According to the Special Adviser to the President on Information and Strategy, Bayo Onanuga, the bills are expected to significantly transform Nigeria’s tax administration.
Onanuga said in a statement on X, “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.”
The Nigeria Tax Bill (Ease of Doing Business) is meant to “consolidate Nigeria’s fragmented tax laws into a harmonised statute”.
The bill aims to reduce multiple taxation and eliminate duplication.
He added that the bill “will enhance the ease of doing business, reduce taxpayer compliance burdens, and create a more predictable fiscal environment”.
The Nigeria Tax Administration Bill is meant to “establish a uniform legal and operational framework” for tax administration nationwide.
The Nigeria Revenue Service (Establishment) Bill is to repeal the “current Federal Inland Revenue Service Act and creates a more autonomous and performance-driven national revenue agency – the Nigeria Revenue Service (NRS)”.
“It defines the NRS’s expanded mandate, including non-tax revenue collection, and lays out transparency, accountability, and efficiency mechanisms,” he said.
And lastly, the Joint Revenue Board (Establishment) Bill is to provide a formal governance structure to “facilitate cooperation between revenue authorities at all levels of government”.
“It introduces essential oversight mechanisms, including establishing a Tax Appeal Tribunal and an Office of the Tax Ombudsman,” he added.
