President Bola Tinubu will on Thursday, June 27, sign into law four tax reform bills aimed at overhauling Nigeria’s fiscal and revenue systems.The Special Adviser to the President on Information and Strategy, Bayo Onanuga, disclosed this in a post on his X account on Wednesday.
According to Onanuga, the four tax bills set to be signed 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, passed by the National Assembly after extensive consultations with various interest groups and stakeholders, are expected to significantly transform tax administration in Nigeria,” he wrote.
The signing ceremony will take place at the Presidential Villa in Abuja and will be witnessed by top government officials including the Senate President, Godswill Akpabio; Speaker of the House of Representatives, Tajudeen Abbas; Senate Majority Leader, House Majority Leader, Chairman of the Senate Committee on Finance, and his counterpart in the House.Also expected at the event are the Chairman of the Nigeria Governors Forum (NGF), Abdulrazaq Abdulrahman; the Chairman of the Progressives Governors Forum, Hope Uzodinma; the Minister of Finance and Coordinating Minister of the Economy, Wale Edun; and the Attorney General of the Federation (AGF), Lateef Fagbemi.
The Nigeria Tax Bill (Ease of Doing Business), one of the four, seeks to consolidate the country’s fragmented tax laws into a single harmonised statute.It is designed to reduce the multiplicity of taxes, eliminate duplication, and improve the ease of doing business by lowering compliance burdens and creating a more predictable fiscal environment.The Nigeria Tax Administration Bill will establish a uniform legal and operational framework for tax administration across the federal, state, and local government levels.
”The Nigeria Revenue Service (Establishment) Bill, the third bill, repeals 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.
”The fourth bill is the Joint Revenue Board (Establishment) Bill. It provides for 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.
