In a bold fiscal move, Nigerian President Bola Tinubu will sign into law four transformative bills on Thursday that aim to modernise the country’s tax system and boost its revenue-generation capabilities.
The new laws – The Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill – represent one of the most comprehensive overhauls of Nigeria’s tax architecture in recent history.
A statement issued by presidential aide Bayo Onanuga said the bills will streamline Nigeria’s often fragmented tax environment, promote greater efficiency in tax collection, and encourage domestic and foreign investment by creating a more predictable regulatory landscape.
The signing, scheduled to take place at the Presidential Villa in Abuja, will be attended by top government officials including the heads of the National Assembly, finance ministers, and key state governors.
One of the standout pieces of legislation is the Nigeria Tax Bill, which focuses on improving the ease of doing business by eliminating multiple and overlapping tax regimes across different jurisdictions. This, the government hopes, will reduce administrative burdens and enhance tax compliance.
The Nigeria Tax Administration Bill proposes a unified framework to align tax operations at all levels of government—federal, state, and local—thereby minimising inefficiencies and duplications.
Another key component is the creation of the Nigeria Revenue Service (NRS) under the third bill. The new agency will replace the Federal Inland Revenue Service and will possess expanded responsibilities, including the collection of non-tax revenues. The bill also includes robust governance features to ensure performance, transparency, and accountability.
The final bill, the Joint Revenue Board (Establishment) Bill, will establish a collaborative platform to foster cooperation among tax authorities. Additionally, it introduces oversight structures such as a Tax Appeal Tribunal and an Office of the Tax Ombudsman to protect taxpayer rights and mediate disputes.
Observers say these reforms, once implemented, could mark a turning point for Nigeria’s economy by strengthening fiscal resilience and reducing dependence on volatile oil revenues.
