By Rafiyat Sadiq
President Bola Ahmed Tinubu on Thursday signed into law, four major tax bills recently passed by the National Assembly.
The signing ceremony, which took place at the Presidential Villa in Abuja was witnessed by the leadership of the National Assembly, including Senate President Godswill Akpabio and Speaker of the House of Representatives Tajudeen Abbas, as well as several governors, ministers, and senior aides to the President.
The four pieces of legislation signed into law are: the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.
The bills, which were the subject of broad consultations with economic stakeholders, policy experts, and private sector representatives, were passed by the National Assembly earlier this month as part of the Tinubu administration’s fiscal reform agenda.
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According to a statement from the Presidency, the laws are intended to overhaul Nigeria’s outdated tax system, streamline tax administration, expand the country’s tax base, and strengthen institutions responsible for revenue collection.
The statement reads “These new laws will modernize our tax processes, improve efficiency, and promote transparency in our revenue system.
“They are designed to enhance the ease of doing business in Nigeria and to attract both local and foreign investment.”
The President’s aides emphasized that the reforms would not only help the government increase internally generated revenue but would also ensure fair and equitable taxation, reduce loopholes, and eliminate revenue leakages.
The legislation also establishes a framework for greater coordination between federal and state revenue bodies through the newly created Joint Revenue Board, which will be tasked with harmonizing tax policies and promoting a unified approach to revenue collection across all levels of government.
With the signing of these bills into law, implementation is expected to begin immediately, with relevant government agencies directed to ensure strict compliance with the provisions of the new legislation.
Rafiyat Sadiq is a political, justice, and human rights reporter with Pinnacle Daily, known for fearless reporting and impactful storytelling. At Pinnacle Daily, she brings clarity and depth to issues shaping governance, democracy, and the protection of citizens’ rights.