The Presidency has announced that President Bola Tinubu will on Thursday sign four landmark tax reform bills into law, marking a significant shift in Nigeria’s fiscal and revenue framework.
The Special Adviser to the President on Information and Strategy, Bayo Onanuga, disclosed this in a statement titled ‘President Tinubu signs four tax bills into law tomorrow.’ The legislative package includes the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.
Onanuga emphasized the transformative potential of the new laws, stating: “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.”
The Nigeria Tax Bill, a centerpiece of the reform, seeks to consolidate Nigeria’s fragmented tax laws into a single, harmonized statute. The Presidency explained: “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.”
The signing ceremony will be attended by key government officials including Senate President Godswill Akpabio, Speaker of the House of Representatives Tajudeen Abbas, Senate Majority Leader Opeyemi Bamidele, and House Majority Leader Julius Ihonvbere. Also expected are the Chairman of the Senate Committee on Finance Sani Musa and his House of Representatives counterpart James Faleke.
State governors including Abdulrahman Abdulrazaq of Kwara and Hope Uzodinma of Imo will witness the historic event alongside federal cabinet members. The Minister of Finance and Coordinating Minister of the Economy Wale Edun and Attorney General of the Federation Lateef Fagbemi are also scheduled to attend.
