President Bola Ahmed Tinubu has signed into law four comprehensive tax reform bills aimed at transforming Nigeria’s fiscal and revenue administration systems, marking a significant milestone in the country’s ongoing economic reform agenda.
The signing ceremony which took place at the Presidential Villa in Abuja, was attended by key figures in government, including the President of the Senate, Godswill Akpabio; Speaker of the House of Representatives, Tajudeen Abbas; the Majority Leaders of both chambers; and the chairmen of the Senate and House Committees on Finance.
Also present were the Chairman of the Nigeria Governors’ Forum, Governor Abdulrahman Abdulrazaq; Chairman of the Progressive Governors’ Forum, Governor Hope Uzodinma; the Minister of Finance and Coordinating Minister of the Economy, Wale Edun; and the Attorney General of the Federation, Lateef Fagbemi.
The newly enacted laws include, The Nigeria Tax Bill, The Nigeria Tax Administration Bill, The Nigeria Revenue Service (Establishment) Bill, and The Joint Revenue Board (Establishment) Bill.
These bills were passed by the National Assembly following wide-ranging consultations with stakeholders across various sectors. The reforms are expected to modernize tax collection, improve efficiency, and expand Nigeria’s revenue base in line with global best practices.
President Tinubu described the new laws as a bold step toward achieving a fair, efficient, and growth-oriented tax system that will support national development and reduce reliance on oil revenue.