In a significant move to reshape Nigeria’s tax landscape, President Bola Ahmed Tinubu has signed four key tax reform bills into law. The signing ceremony, held at the Presidential Villa in Abuja, was witnessed by top government officials, including the leadership of the National Assembly, state governors, the chairman of the Federal Inland Revenue Service (FIRS), and several cabinet ministers.
The newly enacted laws are:
Nigeria Tax Bill
Nigeria Tax Administration Bill
Nigeria Revenue Service (Establishment) Bill
Joint Revenue Board (Establishment) Bill
These bills, recently passed by the National Assembly after thorough consultations with stakeholders and interest groups, aim to modernize tax processes, strengthen revenue institutions, and enhance the overall business climate in Nigeria.
According to the Presidency, the tax reforms are expected to increase government revenue, attract more domestic and foreign investment, and improve compliance through streamlined administration and coordination among revenue-generating agencies.
The reforms align with President Tinubu’s economic agenda to drive sustainable development through improved fiscal policy and accountability in public finance.
