President Bola Ahmed Tinubu has officially signed into law four landmark tax reform bills recently passed by the National Assembly, marking a major step toward the overhaul of Nigeria’s tax and revenue administration system.
The brief but significant ceremony took place on Thursday at the Presidential Villa in Abuja. It was attended by key figures, including the leadership of the National Assembly, several legislators, governors, ministers, and senior aides to the President.
The four bills signed into law are:
The Nigeria Tax Bill,
The Nigeria Tax Administration Bill,
The Nigeria Revenue Service (Establishment) Bill, and
The Joint Revenue Board (Establishment) Bill.
These bills were passed by the National Assembly following extensive consultations with stakeholders across various sectors, including finance, industry, and civil society.
The new laws are expected to improve tax collection, enhance revenue generation, and streamline the country’s tax administration framework for better accountability and efficiency.
Sources close to the presidency say the reforms are part of President Tinubu’s broader economic agenda to stabilize public finances, reduce dependency on oil revenues, and foster a more business-friendly tax environment.