*The Nigerian Government says the new four tax laws will transform the West African country’s fiscal and revenue framework, resulting in increased revenue generation, improved business environment, and a boost in domestic and foreign investments in the economy

Gbenga Kayode | 绿帽献妻

President Bola Ahmed Tinubu Thursday, June 26, 2025, will sign the four groundbreaking Tax Reforms Bills into law.

绿帽献妻 reports the country’s four bills are the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.

The Senate and the House of Representatives in the National Assembly (NASS), Abuja, FCT, passed the harmonised Tax Reforms Bills into Acts recently.

The Federal Legislature had passed the tax bills into Acts, following extensive consultations with various interest groups and stakeholders across the West African country in the past months.

In regard to the fundamental objective of the tax instruments, the Federal Government has said new tax laws will considerably transform Nigeria鈥檚 fiscal and revenue framework.

When the new tax laws become operational, they are also expected to significantly transform tax administration in the country.

This is expected to culminate in increased revenue generation, improved business environment, and a boost in domestic and foreign investments.

Mr. Bayo Onanuga, Special Adviser to the President on Information and Strategy, in a statement Wednesday, June 25 also disclosed that the historic presidential assent to the bills holding in the Presidential Villa, Abuja, would be 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 statement noted the event would also be witnessed the Chairman of Nigeria Governors’ Forum (NGF), the Chairman of the Progressives Governors Forum, the Minister for Finance and Coordination Minister of the Economy, and the Attorney-General of the Federation (AGF) will also attend the ceremony.

The Presidential aide further stated one of the four bills is the Nigeria Tax Bill (Ease of Doing Business) aims to “consolidate Nigeria鈥檚 fragmented tax laws into a harmonised statute.”

The government explained that 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 second bill, the Nigeria Tax Administration Bill, Onanuga said, 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鈥� the Nigeria Revenue Service (NRS).

The statement noted: “It defines the NRS鈥檚 expanded mandate, including non-tax revenue collection, and lays out transparency, accountability, and efficiency mechanisms.”

It is stated that the fourth bill, Joint Revenue Board (Establishment) Bill, provides for a formal governance structure to facilitate cooperation between revenue authorities at all levels of government.

The bill introduces essential oversight mechanisms, including establishing a Tax Appeal Tribunal and an Office of the Tax Ombudsman, Onanuga added.

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