President Bola Tinubu has signed into legislation 4 tax reform payments on key areas of Nigeria’s fiscal and income framework.
Tinubu signed the payments at a ceremony held on the Presidential Villa on Thursday.
The 4 payments embody: the Nigeria Tax Invoice, the Nigeria Tax Administration Invoice, the Nigeria Income Service (Institution) Invoice, and the Joint Income Board (Institution) Invoice.
They have been handed by the Nationwide Meeting after months of consultations with numerous curiosity {groups} and stakeholders.
In an earlier assertion signed by Particular Adviser to the President (Info & Technique), Bayo Onanuga, on Wednesday, he said, “When the brand new tax legal guidelines grow to be operational, they’re anticipated to considerably rework tax administration within the nation, resulting in elevated income era, improved enterprise surroundings, and a lift in home and international investments.”
The presidential assent to the payments was witnessed by the Senate President, Speaker of the Home of Representatives, Senate Majority Chief, Home Majority Chief, chairman of the Senate Committee on Finance, and his Home counterpart.
The Chairman of the Governors Discussion board, Abdulrahman Abdulrazaq of Kwara State; the Chairman of the Progressives Governors Discussion board, Hope Uzodinma of Imo State; the Minister of Finance and Coordination Minister of the Economic system, Wale Edun; and the Lawyer Basic of the Federation, Lateef Fagbemi, have been additionally on the ceremony.
One of many 4 payments is the Nigeria Tax Invoice (Ease of Doing Enterprise), which goals to consolidate Nigeria’s fragmented tax legal guidelines right into a harmonised statute.
“By decreasing the multiplicity of taxes and eliminating duplication, the invoice will improve the benefit of doing enterprise, cut back taxpayer compliance burdens, and create a extra predictable fiscal surroundings,” stated the Presidency.
The second invoice, the Nigeria Tax Administration Invoice, will set up a uniform authorized and operational framework for tax administration throughout federal, state, and native governments.
The Nigeria Income Service (Institution) Invoice, the third invoice, repeals the present Federal Inland Income Service Act and creates a extra autonomous and performance-driven nationwide income company— the Nigeria Income Service.
It defines the NRS’s expanded mandate, together with non-tax income assortment, and lays out transparency, accountability, and effectivity mechanisms.
The fourth invoice is the Joint Income Board (Institution) Invoice.
It supplies for a proper governance construction to facilitate cooperation between income authorities in any respect ranges of presidency. It introduces important oversight mechanisms, together with establishing a Tax Attraction Tribunal and an Workplace of the Tax Ombudsman.
Regulation to take impact in 2026 – FIRS boss
The Government Chairman of the Federal Inland Income Service (FIRS), which is able to now be referred to as the Nationwide Income Service (NRS), Zacch Adedeji, introduced that the newly signed 4 tax reform payments will take impact on January 1, 2026.
He stated this timeline would give the administration six months for planning, sensitization, and alignment with the fiscal calendar.
This was made recognized by Adedeji whereas addressing the State Home Correspondents on Thursday, June 26, 2025, after the signing of the payments by President Bola Tinubu on the Presidential Villa.
What you need to know
The 4 payments, the Nigeria Tax Invoice, the Nigeria Tax Administration Invoice, the Nigeria Income Service (Institution) Invoice, and the Joint Income Board (Institution) Invoice, have been handed by the Nationwide Meeting after in depth consultations with numerous curiosity {groups} and stakeholders.
The tax payments generated important public debate and skepticism throughout numerous {groups} and areas within the nation. In response, in depth consultations have been held to include numerous opinions into the legislative course of.
