Abuja, Nigeria – June 26, 2025 — President Bola Ahmed Tinubu has signed into law four major tax reform bills that are set to reshape Nigeria’s tax and revenue systems. The signing ceremony took place at the Presidential Villa in Aso Rock, Abuja.
These new laws are aimed at increasing government revenue, making tax administration more efficient, reducing the stress of paying taxes for individuals and businesses, and encouraging both local and foreign investment in Nigeria.
The Four New Laws Signed:
- Nigeria Tax Bill (Ease of Doing Business): This law brings together Nigeria’s previously scattered tax laws into one single, well-organized document. It will reduce the number of different taxes people and businesses have to deal with and make the tax system simpler and more predictable. This is expected to make it easier for businesses to operate in Nigeria.
- Nigeria Tax Administration Bill: This bill creates one common system for tax administration across all levels of government—federal, state, and local. It ensures that all tax authorities in Nigeria follow the same rules and guidelines, reducing confusion and inconsistency.
- Nigeria Revenue Service (Establishment) Bill: This law replaces the current Federal Inland Revenue Service (FIRS) with a new, independent and more efficient agency called the Nigeria Revenue Service (NRS). The NRS will not only collect tax revenues but will also be responsible for collecting non-tax revenues. It will have clear rules for transparency and accountability.
- Joint Revenue Board (Establishment) Bill: This bill sets up a formal body to encourage better coordination between federal, state, and local tax agencies. It also introduces important oversight features like a Tax Appeal Tribunal—where people and businesses can challenge unfair tax decisions—and an Office of the Tax Ombudsman to handle complaints and promote fairness.
Why These Reforms Matter
According to presidential spokesperson Bayo Onanuga, these laws are expected to make a big difference in how taxes are managed and collected in Nigeria. “They will increase revenue, improve the ease of doing business, and attract more domestic and foreign investments,” he said.
The reforms are designed to reduce the burden of taxes on Nigerians, eliminate overlapping taxes, and create a more organized and business-friendly tax environment.
Who Was Present at the Signing
Several top government officials and dignitaries were present at the signing ceremony, including:
- Senate President
- Speaker of the House of Representatives
- Senate and House Majority Leaders
- Chairmen of the Senate and House Committees on Finance
- Governor Abdulrahman Abdulrazaq of Kwara State (Chairman, Nigeria Governors’ Forum)
- Governor Hope Uzodinma of Imo State (Chairman, Progressives Governors Forum)
- Minister of Finance and Coordinating Minister of the Economy, Wale Edun
- Attorney General of the Federation, Lateef Fagbemi (SAN)
What Comes Next
The new laws are expected to go into full operation soon. Government agencies will begin putting structures in place to implement the reforms and educate the public on how the changes will work.
This move is part of President Tinubu’s broader plan to reform Nigeria’s economy, improve government efficiency, and build investor confidence.
