President Bola Ahmed Tinubu has officially signed four landmark tax reform bills into law, ushering in what he termed “a bold new era of economic governance” for Nigeria.
The bills, which were signed at the Presidential Villa on Thursday, include:
- Nigeria Tax Bill (Fair Taxation)
- Nigeria Tax Administration Bill
- Nigeria Revenue Service (Establishment) Bill
- Joint Revenue Board (Establishment) Bill
President Tinubu, flanked by top-ranking officials including Senate President Godswill Akpabio and House of Representatives Speaker Tajudeen Abbas, stated that the reforms are far more than mere administrative restructuring.
“This is not just about streamlining tax codes. It’s about delivering the first major, pro-people tax cuts in a generation. We are targeting relief for low-income earners, small businesses, and hardworking families,” Tinubu said.
According to the President, the new laws are designed to unify Nigeria’s fragmented tax systems, eliminate duplications, and cut bureaucratic red tape, while also restoring investor confidence through transparency and effective coordination at all levels of governance.
The Presidency had announced on Wednesday that Tinubu would be signing the bills, signaling a firm commitment to overhauling the nation’s revenue architecture.
Initially, the bills stirred nationwide controversy and resistance upon their presentation to the National Assembly, sparking debates among lawmakers, civil society groups, and business leaders.
However, following extensive consultations across geopolitical zones, many of those initially opposed eventually rallied behind the bills. The shift in sentiment was largely due to the administration’s assurances of economic relief, fiscal equity, and inclusive implementation strategies.
Implications for Nigerians
With these laws now enacted, the federal government is poised to:
- Simplify tax compliance for individuals and SMEs
- Reduce the tax burden on low-income households
- Strengthen inter-agency coordination across federal and state revenue bodies
- Promote a more investor-friendly business environment
Economic analysts suggest the reforms could bolster government revenue while also expanding the formal tax base, provided the implementation remains efficient and transparent.
Conclusion
As Nigeria grapples with economic headwinds, President Tinubu’s tax reform package may prove pivotal in setting a new trajectory for sustainable growth, fiscal discipline, and citizen-centered governance, however, only time will tell.
FULL STATEMENT FROM THE PRESIDENCY
PRESIDENT TINUBU: NEW TAX LAWS, THE WAY FORWARD FOR NIGERIA’S PROSPERITY
President Bola Tinubu on Thursday signed into law the four new tax bills recently passed by the National Assembly, describing the new laws as pivotal to the success of the administration’s reforms and the country’s prosperity.
The bills are the Nigeria Tax Bill (Ease of Doing Business), which aims to consolidate Nigeria’s fragmented tax laws into a harmonised statute; the Nigeria Tax Administration Bill, which will establish a uniform legal and operational framework for tax administration across federal, state, and local governments.
Others are the Nigeria Revenue Service (Establishment) Bill, which repeals the current Federal Inland Revenue Service Act and creates a more autonomous and performance-driven national revenue agency— the Nigeria Revenue Service (NRS); and the Joint Revenue Board (Establishment) Bill, which provides for a formal governance structure to facilitate cooperation between revenue authorities at all levels of government.
At the signing ceremony at the State House, President Tinubu said that the occasion presented a new lease of life to every Nigerian and future generation.
“What we did a few minutes ago is the way forward for our country’s prosperity. Leadership must help people take off, lead the way, and navigate every turn and twist. We must help them reach their destination. That is what we are doing.
“We are in transit; we have changed the roads, we have changed some of the misgivings, we have opened the doors to a new economy, business opportunities. We have shown the world that Nigeria is ready and open for business,” the President stated.
President Tinubu commended the leadership and members of the National Assembly for passing the bills despite initial misunderstandings.
“It was initially difficult, but not all roads will be easy in nation-building. What you have provided is leadership and courage in the face of mounting disputes. Nowhere in the world would tax reforms be easy,” the President said.
Mr. Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, extolled the President’s leadership in enabling the passage of the four bills.
He thanked the President for all the support, without necessarily teleguiding the committee, and only asked necessary questions.
“History will remember you for good for transforming our country because you went for a fundamental reform.”
The Chairman of the Federal Inland Revenue Service, Dr Zacch Adedeji, described the day as the happiest day of his life and the passage as a dream come true.
President of the Senate, Godswill Akpabio, eulogised President Tinubu for his sterling leadership qualities.
“We have always known that you are a thinker, that you are intellectually sound, and that you care for your country. You campaigned based on change for the country. This law would last for generations to come.”
Akpabio congratulated members of the National Assembly and other stakeholders who made the passage of the tax bills possible.
Bayo Onanuga
Special Adviser to the President
(Information & Strategy)
June 26, 2025
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