President Bola Tinubu on Thursday signed the four new tax bills passed by the National Assembly into law, describing it as the most comprehensive, pro-poor tax reform in Nigeria’s history.
The bills are the Nigeria Tax Bill (Ease of Doing Business), which aims to consolidate Nigeria’s fragmented tax laws into a harmonised statute; the Nigeria Tax Administration Bill, which will establish a uniform legal and operational framework for tax administration across federal, state, and local governments.
Others are the Nigeria Revenue Service (Establishment) Bill, which repeals the current Federal Inland Revenue Service Act and creates a more autonomous and performance-driven national revenue agency— the Nigeria Revenue Service (NRS); and the Joint Revenue Board (Establishment) Bill, which provides for a formal governance structure to facilitate cooperation between revenue authorities at all levels of government.
According to the President, the move to introduce the new tax laws is not about raising revenue, but aimed at entrenching fairness and efficiency.
Our correspondent, Raliat Adenekan reports that the Executive Chairman of the Nigeria Revenue Service (NRS), Zacch Adedeji, addressing newsmen after the signing, announced that the newly signed tax reform laws will officially come into effect on January 1, 2026.
Speaking respectively.Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele and the Chairman of the House of Representatives Committee on Finance
Hon.James Faleke said that the new tax laws would ease the burden on low-income earners as well as erase archaic tax laws to enable Nigeria meets its revenue target.
Key highlights of the laws include full tax exemptions for over a third of Nigerian workers, and significant relief for more than 90% of micro and small businesses. The reforms also eliminate Value Added Tax on essential goods and services like food, healthcare, education, transport, and housing.
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