By Samuel Adeola
President Bola Tinubu will today sign into law four major tax reform bills aimed at reshaping Nigeria’s fiscal and revenue systems.
This was confirmed by Bayo Onanuga, the President’s Special Adviser on Information and Strategy, who said the signing will take place at the Presidential Villa in Abuja.
The National Assembly passed the bills in March after extensive consultations with stakeholders and transmitted them to the President on June 18 for assent.
The proposed laws include the Nigeria Tax Bill (Ease of Doing Business), the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.
Onanuga stated that the signing ceremony will be witnessed by key officials, including the Senate President, the Speaker of the House of Representatives, the Senate and House Majority Leaders, Chairmen of the Finance Committees, the Chairman of the Governors’ Forum, the Chairman of the Progressive Governors’ Forum, the Minister of Finance and Coordinating Minister of the Economy, and the Attorney General of the Federation.
According to him, the new tax laws are expected to bring significant changes to tax administration in the country, increase revenue, improve the business climate, and encourage more local and foreign investments.
He explained that the Nigeria Tax Bill will consolidate the country’s fragmented tax laws into a single harmonised structure, reduce multiple taxation, ease compliance for taxpayers, and create a more stable fiscal environment.
Onanuga added that the Nigeria Tax Administration Bill will provide a uniform legal and operational framework for tax administration across federal, state, and local governments.
He noted that the Nigeria Revenue Service Bill will replace the existing Federal Inland Revenue Service Act and establish a more autonomous and efficient tax agency known as the Nigeria Revenue Service, which will also oversee non-tax revenue collection.
The bill includes provisions for transparency, accountability, and improved performance.
The fourth bill, the Joint Revenue Board (Establishment) Bill, will establish a formal structure for cooperation among revenue authorities at all levels.
It also proposes the creation of a tax appeal tribunal and the office of a tax ombudsman to enhance oversight and fairness in the tax system.
