Tinubu has signed four tax reform bills into law.
Glamtush reports that President Bola Tinubu has assented to the four tax reform bills recently passed by the National Assembly.
This news platform understands that the brief ceremony, which took place at the Presidential Villa on Thursday, was attended by the leadership of the National Assembly, as well as some legislators, governors, ministers, and aides of the President.
Tinubu signed the bills at about 03:20 pm local time on Thursday.
The four bills—the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill were passed by the National Assembly after extensive consultations with various interest groups and stakeholders.
They were passed by the National Assembly after months of consultations with various interest groups and stakeholders.
According to the presidency, the new tax laws will significantly transform tax administration in the country, leading to increased revenue generation, improved business environment, and a boost in domestic and foreign investments.
In his address to reporters, the chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, stated that the new tax regime would commence on January 1, 2026.
He said, “It takes time for all the stakeholders, participants, operators, and the regulator to change the system.
“So, with the magnanimity of the National Assembly, Mr President assented to the bills. So, the effective date will be January 1, 2026. We have six full months for both sensitisation and planning. This is also considering the fiscal year of the government because when you have this kind of change, it’s not what you do in the media.”
“When the new tax laws become operational, they are expected to significantly transform tax administration in the country, leading to increased revenue generation, improved business environment, and a boost in domestic and foreign investments,” Onanuga said.
The presidential assent to the bills was witnessed by the Senate President, Speaker of the House of Representatives, Senate Majority Leader, House Majority Leader, chairman of the Senate Committee on Finance, and his House counterpart.
The Chairman of the Governors Forum, Abdulrahman Abdulrazaq of Kwara State; the Chairman of the Progressives Governors Forum, Hope Uzodinma of Imo State; the Minister of Finance and Coordination Minister of the Economy, Wale Edun; and the Attorney General of the Federation, Lateef Fagbemi, were also at the ceremony.
One of the four bills is the Nigeria Tax Bill (Ease of Doing Business), which aims to consolidate Nigeria’s fragmented tax laws into a harmonised statute.
“By reducing the multiplicity of taxes and eliminating duplication, the bill will enhance the ease of doing business, reduce taxpayer compliance burdens, and create a more predictable fiscal environment,” said the presidency in a statement Wednesday night.
The second bill, the Nigeria Tax Administration Bill, will establish a uniform legal and operational framework for tax administration across federal, state, and local governments.
The Nigeria Revenue Service (Establishment) Bill, the third bill, repeals the current Federal Inland Revenue Service Act and creates a more autonomous and performance-driven national revenue agency— the Nigeria Revenue Service.
It defines the NRS’s expanded mandate, including non-tax revenue collection, and lays out transparency, accountability, and efficiency mechanisms.
The fourth bill is the Joint Revenue Board (Establishment) Bill.
It provides for a formal governance structure to facilitate cooperation between revenue authorities at all levels of government. It introduces essential oversight mechanisms, including establishing a Tax Appeal Tribunal and an Office of the Tax Ombudsman.
The new tax bills introduced by the Tinubu administration had been enveloped in widespread controversy and sparked scathing criticisms and stiff opposition from many, including some governors who believed that some states wouldn’t be able to pay staff salaries if some sections of the bills made it into law.
However, the presidency and the National Assembly said stakeholders had been engaged across the country and the fears of the governors had been allayed.
