President Bola Tinubu has signed into law four critical tax reform bills recently passed by the National Assembly, marking a significant step in the administration’s push to overhaul Nigeria’s fiscal framework and stimulate economic recovery.
The brief signing ceremony, held at the Presidential Villa in Abuja, was attended by Senate President Godswill Akpabio, Speaker of the House of Representatives Tajudeen Abbas, several governors, cabinet ministers, and presidential aides.
The new legislation includes: The Nigeria Tax Bill, The Nigeria Tax Administration Bill, The Nigeria Revenue Service (Establishment) Bill, The Joint Revenue Board (Establishment) Bill.
These bills, developed after broad-based consultations with stakeholders across the economic and business spectrum, are designed to modernize Nigeria’s tax administration, improve revenue collection efficiency, and foster a more transparent, investor-friendly fiscal environment.
Earlier on Thursday, President Tinubu emphasized the strategic importance of the tax reforms, describing them as “a critical foundation for long-term economic revival and fiscal stability.”
“Our objective is simple: to create a fair, predictable, and growth-driven tax system that supports business expansion, job creation, and national development,” he said.
The reforms are expected to bolster government revenue without introducing sweeping new taxes, while ensuring compliance and reducing bureaucratic hurdles for businesses.
This development comes as Nigeria continues its broader economic reforms agenda, including cutting wasteful subsidies and promoting private-sector-led growth amid mounting fiscal pressures.
