In a landmark move to overhaul Nigeria’s tax structure, President Bola Ahmed Tinubu has signed four major tax reform bills into law, marking what he called a “bold and foundational shift” in the country’s fiscal policy. The signing ceremony, held at the Presidential Villa in Abuja, signaled the administration’s commitment to eliminating duplication, promoting transparency, and restoring investor confidence in Nigeria’s economy.
The bills Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill were passed by the National Assembly following extensive consultations with key stakeholders and economic experts.
According to the presidency, these new tax laws will revolutionize tax administration, boost government revenue, simplify compliance, and create a more attractive environment for both local and foreign investment. This strategic reform is expected to modernize Nigeria’s tax system, reduce inefficiencies, and ultimately build a fairer economic framework.
