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Presidency says laws will transform revenue system and attract more investment
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Tax Appeal Tribunal, National Revenue Service to be established under new regime
Multiplicity of taxes to be eliminated to improve ease of doing business
President Bola Ahmed Tinubu is set to sign four key tax reform bills into law on Thursday, June 27, in a move the Presidency describes as a major overhaul of Nigeria’s fiscal and revenue framework.
The bills — the Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill — were passed by the National Assembly after months of stakeholder consultations.
In a statement released Wednesday evening, the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, confirmed the presidential assent will take place at the Presidential Villa in Abuja.
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According to the statement, “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 event will be attended by key national leaders including Senate President Senator Godswill Akpabio, House Speaker Rt Hon Tajudeen Abbas, Senate Leader Senator Opeyemi Bamidele, House Leader Hon Julius Ihonvbere, and finance committee chairmen Senator Sani Musa and Hon James Faleke.
Also expected are the Chairman of the Nigeria Governors Forum, Governor Abdulrahman Abdulrazaq, Progressives Governors Forum Chairman Governor Hope Uzodinma, Minister of Finance Mr Wale Edun, and the Attorney-General of the Federation Prince Lateef Fagbemi (SAN).
The Nigeria Tax Bill, also dubbed the Ease of Doing Business Tax Law, seeks to consolidate Nigeria’s fragmented tax codes into a single statute. The law will streamline tax procedures and eliminate duplications that have long burdened businesses and individuals.
The Nigeria Tax Administration Bill aims to establish a unified legal framework across all levels of government for streamlined and transparent tax operations.
Under the Nigeria Revenue Service (Establishment) Bill, the Federal Inland Revenue Service (FIRS) will be replaced with the Nigeria Revenue Service — a more autonomous and performance-driven agency with an expanded mandate that includes non-tax revenue collection.
The Joint Revenue Board (Establishment) Bill will create a structured body to coordinate tax administration among federal, state, and local government agencies. It also introduces two vital institutions — the Tax Appeal Tribunal and the Office of the Tax Ombudsman — to ensure accountability and address grievances.
The Federal Government says these legislative reforms are designed to restore investor confidence, end arbitrary taxation, and reduce the cost of doing business nationwide.
