President Bola Ahmed Tinubu on Thursday signed into law four landmark tax bills aimed at overhauling Nigeria’s tax framework and driving long-term economic growth and prosperity.
The newly enacted laws—passed recently by the National Assembly—are:
1. The Nigeria Tax (Ease of Doing Business) Bill, which consolidates the country’s fragmented tax statutes into a harmonised, business-friendly law.
2. The Nigeria Tax Administration Bill, establishing a uniform legal and operational framework for tax administration across federal, state, and local levels.
3. The Nigeria Revenue Service (Establishment) Bill, which replaces the Federal Inland Revenue Service Act and creates a more autonomous and performance-driven national tax body, the Nigeria Revenue Service (NRS).
4. The Joint Revenue Board (Establishment) Bill, aimed at fostering intergovernmental coordination through a formal governance structure for revenue authorities nationwide.
Speaking during the signing ceremony at the State House in Abuja, President Tinubu described the tax reform as a historic milestone and a strategic step toward unlocking Nigeria’s economic potential.
“What we did a few minutes ago is the way forward for our country’s prosperity,” he declared. “Leadership must guide people through transition—changing the roads, correcting missteps, and opening doors to new economic opportunities. We have demonstrated that Nigeria is ready and open for business.”
The President acknowledged the initial challenges the tax reforms faced but praised the National Assembly for showing resilience and vision.
“It was initially difficult, but not all roads will be easy in nation-building. What you have provided is leadership and courage in the face of mounting disputes. Nowhere in the world would tax reforms be easy,” he said.
Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr. Taiwo Oyedele, praised Tinubu’s commitment to transformative governance, noting that the President gave the committee the freedom to work independently while asking critical, insightful questions.
“History will remember you for good for transforming our country because you went for a fundamental reform,” Oyedele said.
Also speaking, the Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, expressed joy over the development, describing it as the “happiest day” of his life and a long-awaited dream come true.
President of the Senate, Senator Godswill Akpabio, commended Tinubu for his intellect, courage, and foresight.
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“We have always known that you are a thinker, intellectually sound, and deeply committed to the nation’s future. These tax laws are a legacy that will serve generations to come,” Akpabio said.
He also lauded members of the National Assembly and stakeholders for their roles in the successful passage of the bills.
