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Tinubu Signs Four Tax Reform Bills into Law
President Bola Tinubu has signed the four Tax Reform Bills into law, after it was recently passed by the National Assembly.
The ceremony took place at the Presidential Villa on Thursday.
The ceremony was witnessed by top government officials including the President of the Senate, Godswill Akpabio, the Speaker of the House of Representatives, Tajudeen Abbas the Senate and House Majority Leaders, as well as chairmen of the Senate and House Committees on Finance.
Also in attendance were the Chairman of the Nigeria Governors’ Forum and Kwara state go governor, Abdulrazaq AbdulRahman, the Chairman of the Progressive Governors’ Forum and Imo state governor, Hope Uzodimma, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Attorney General of the Federation, Lateef Fagbemi, SAN.
The four bills —the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill —were passed by the National Assembly after extensive consultations with various interest groups and stakeholders.
Designed to overhaul Nigeria’s fiscal and revenue administration framework, the laws have been described as a major leap in the nation’s economic reform drive.
President Tinubu said the bills reflect his administration’s resolve to create a modern, transparent, and efficient tax system capable of supporting national development, promoting investment, and reducing the burden of multiple taxation on citizens and businesses.
The Nigeria Tax Bill (Ease of Doing Business) consolidates Nigeria’s fragmented tax statutes into a unified legal framework. It seeks to reduce tax duplication, enhance clarity, and ease compliance for taxpayers.
The Nigeria Tax Administration Bill provides a harmonized legal and operational structure for tax administration at the federal, state, and local government levels, aiming to foster efficiency and uniformity in tax collection.
The Nigeria Revenue Service (Establishment) Bill repeals the existing Federal Inland Revenue Service (FIRS) Act, paving the way for the establishment of a new, performance-driven Nigeria Revenue Service (NRS) with expanded responsibilities, including non-tax revenue collection. The bill also introduces strong mechanisms for accountability and transparency.
The Joint Revenue Board (Establishment) Bill sets up a national governance structure to coordinate tax efforts across all tiers of government.
It also introduces a Tax Appeal Tribunal and an Office of the Tax Ombudsman, enhancing taxpayer rights and dispute resolution mechanisms.
Many have described the development as a bold step toward boosting Nigeria’s revenue base, reducing investor uncertainty, and deepening the fiscal decentralization agenda.
The reforms are expected to spur job creation, improve public service delivery, and build public confidence in the nation’s tax system.
State House officials say this latest move comes as part of President Tinubu’s broader economic reform package aimed at achieving macroeconomic stability and sustainable growth.
Earlier on Thursday, President Tinubu had explained that the laws would be unifying Nigeria’s fragmented tax system, remove redundant overlaps, boost investor confidence, enhance transparency, and promote coordinated efforts across all levels.
He also described the legislation as a clear departure from previous policies, emphasising that the reforms are designed to ease the burden on working families, small businesses, and low-income earners while eliminating inefficiencies that have long plagued Nigeria’s fiscal structure.
On his verified X handle @officialABAT, the President had said that the new tax laws form the groundwork for the Nigeria of tomorrow, focused on unlocking opportunities for all.
“We are also building a framework for the Nigeria of tomorrow-leaner, fairer and laser focused on unlocking opportunities for all.”
The president explained that with the new tax reform laws, the Bola Tinubu led administration is now laying the foundation for a tax regime that is fair, transparent, and fit for a modern, ambitious Nigeria.
“These reforms go beyond streamlining tax codes. They deliver the first major, pro-people tax cuts in a generation, targeted relief for low-income earners, small businesses, and families working hard to make ends meet.
“For too long, our tax system has been a patchwork-complex, inequitable, and burdensome. It has weighed down the vulnerable and shielded inefficiency. That era ends today.
“We are laying a foundation for a tax regime that is fair, transparent, and fit for a modern, ambitious Nigeria. A tax regime that rewards enterprise, protects the vulnerable, and mobilises revenue without punishing productivity,” he said.
The campaign team of Olajide Adediran, popularly known as Jandor, has announced that their leader, who is Governorship aspirant, has formally purchased the Expression of Interest and Nomination Forms of the All Progressives Congress ahead of the 2027 general elections in Lagos State.
The development was disclosed in a press statement issued on Wednesday by Gbenga Ogunleye, spokesperson for the Jandor campaign organisation, marking a significant step in Adediran’s bid to contest for the state’s top office.
According to the statement, the move underscores Adediran’s commitment to due process and strict adherence to the party’s internal democratic procedures.
The governorship aspirant also reiterated his alignment with the party’s decision to adopt direct primaries for all elective positions, expressing optimism that the process would enhance grassroots participation, strengthen unity within the party, and promote inclusiveness in the emergence of candidates.
Jandor further reaffirmed his loyalty to the National Leader of the APC and President of Nigeria, Bola Ahmed Tinubu, while also paying tribute to party leaders in Lagos State for their continued guidance and commitment to progressive ideals.
He also extended gratitude to members of the JAGABAN–JANDOR 2027 Movement, young Lagosians, and supporters who contributed financially towards the purchase of the nomination forms, commending their dedication and belief in his leadership capacity.
Jandor assured party members and residents of Lagos State that his governorship ambition is rooted in unity, inclusiveness, and a commitment to sustaining and advancing good governance under the APC platform.
All Progressives Congress (APC) governorship aspirant in Lagos State, Samuel Ajose, has declared that the endorsement of Deputy Governor Obafemi Hamzat as the next governor by Governor Babajide Sanwo-Olu and the Governance Advisory Council (GAC) will not stand.
GAC, regarded as the highest decision-making body of the All Progressives Congress in Lagos State, endorsed Hamzat, as its consensus candidate for the 2027 governorship election.
The decision was reached during a closed-door meeting held at Lagos House, Marina, indicating an early alignment within the ruling party ahead of the next electoral cycle.
Speaking after the session, GAC leader, Tajudeen Olusi, said members unanimously agreed on Hamzat, expressing confidence in his ability to sustain and build on the state’s developmental progress.
Olusi explained that the meeting was convened to deliberate on the party’s forthcoming primaries and assess the governorship position ahead of the 2027 elections.
Speaking about the GAC adoption of Hamzat as Lagos APC consensus 2027 governorship candidate on Arise News on Tuesday, Ajose said that Sanwo-Olu and others are trying to force President Tinubu into making a decision.
“I don’t think our president, Asiwaju Bola Ahmed Tinubu, is giving in to what they are doing.
“What they are just trying to do is to coerce him into taking a decision, and I don’t think that decision will stand.”
The House of Representatives has approved President Bola Tinubu’s request to borrow Five Hundred and Sixteen Million, Three Hundred and Thirty-three Thousand, seven ($516,333,007) US dollars in syndicated financing from Deutsche Bank AG.
The House approved it during the plenary on Tuesday in Abuja after the presentation of a report by the deputy chairman of the House Committee on Aids, Loans, and Debts Management, Abdullahi Rasheed.
The money is expected to fund the construction of sections of the Sokoto–Badagry Super Highway.
President Tinubu wrote to the lawmakers, seeking a $516.3 million loan from Deutsche Bank to support the construction of the road.
The president said the loan, to be sourced from a syndicated financing facility by Deutsche Bank, will fund sections 1, 1A, and 1B of the project, which covers about 120 kilometres.
Tinubu requested a resolution in line with Sections 16 and 21 of the Debt Management Office (Establishment) Act, 2011, to enable the federal government to secure the financing for Sections 1, Phase 1A, and Phase 1B of the project.
The project is a flagship initiative of Tinubu’s Renewed Hope Agenda and is targeted at enhancing national connectivity, improving the movement of goods across key economic corridors, and drastically shrinking travel time.
The 1,000-kilometre project will link Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun, and Lagos states, connecting Illela to Badagry.
According to him, the financing arrangement will be backed by a partial risk guarantee from the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC).
He said the Federal government will provide counterpart funding of over N265 billion for land acquisition, compensation, and related infrastructure.
The former Lagos governor said the loan is structured for nine years and includes a three-year grace period.
It has an interest rate pegged at the Chicago Mercantile Exchange SOFR plus 5.3 per cent per annum.
Already, the Federal Executive Council has approved the financing plan.
