By ABNews State House Correspondent | June 25, 2025 | Abuja
ABUJA — President Bola Ahmed Tinubu will on Thursday, June 26, 2025, sign into law four landmark tax reform bills aimed at modernizing Nigeria’s tax system, improving revenue generation, and boosting investor confidence in the economy.
The signing ceremony, scheduled to hold at the Presidential Villa in Abuja, is expected to mark a turning point in Nigeria’s fiscal policy and governance framework. According to a statement issued by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, the bills were passed by the National Assembly after extensive consultations with stakeholders from both the public and private sectors.
The Four Tax Reform Bills
The four bills to be signed into law are:
- The Nigeria Tax Bill (Ease of Doing Business)
- The Nigeria Tax Administration Bill
- The Nigeria Revenue Service (Establishment) Bill
- The Joint Revenue Board (Establishment) Bill
Together, these bills are expected to streamline tax policies, harmonize regulatory frameworks, and strengthen cooperation across all tiers of government on tax administration.
What the Reforms Mean for Nigerians
When implemented, the new tax laws will:
*Reduce the burden of multiple taxation on individuals and businesses
*Enhance transparency, accountability, and efficiency in revenue collection
*Create a more business-friendly environment to attract both domestic and foreign investments
*Establish clear mechanisms for taxpayer grievances and appeals
“These reforms represent a bold step forward in creating a fair, efficient, and growth-driven tax system,” Onanuga said in the statement.
Dignitaries Expected at the Signing
The historic event will be attended by key figures in Nigeria’s legislative and economic leadership. They include:
Senate President, Speaker of the House of Representatives, Senate and House Majority Leaders, Chairmen of the Senate and House Committees on Finance, Chairman of the Nigerian Governors’ Forum, Chairman of the Progressives Governors Forum, Attorney General of the Federation and Minister of Justice, Minister of Finance and Coordinating Minister of the Economy
Their presence underscores the wide-ranging support for these legislative changes, which many see as vital to Nigeria’s economic revival.
Highlights of Each Bill
- Nigeria Tax Bill (Ease of Doing Business)
This bill consolidates various tax laws into a single, harmonized document, reducing regulatory duplication and improving clarity for businesses. - Nigeria Tax Administration Bill
This legislation introduces a standardized legal and operational framework for tax administration across federal, state, and local governments, aiming for uniform enforcement and taxpayer fairness. - Nigeria Revenue Service (Establishment) Bill
This bill replaces the Federal Inland Revenue Service (FIRS) with a rebranded, autonomous Nigeria Revenue Service (NRS), empowered with broader mandates, including non-tax revenue collection and a stronger emphasis on performance and service delivery. - Joint Revenue Board (Establishment) Bill
This creates a unified platform for cooperation among revenue authorities nationwide and introduces critical oversight mechanisms such as the Tax Appeal Tribunal and an independent Tax Ombudsman.
Why It Matters
With these reforms, Nigeria is taking concrete steps toward modernizing its revenue systems, closing loopholes, and reducing the cost of doing business. Analysts believe the new tax structure will promote fiscal discipline, encourage entrepreneurship, and strengthen public trust in the nation’s economic institutions.
For More Information:
Visit statehouse.gov.ng or follow @abnews for updates on the signing ceremony and expert analysis of the tax reforms.
Issued by:
Bayo Onanuga
Special Adviser to the President
(Information and Strategy)
June 25, 2025.
