President Bola Tinubu on Thursday, June 26, 2025, signed into law four new tax bills, hailing them as crucial for the success of his administration’s reforms and the nation’s economic prosperity.
This was disclosed in a statement issued by Bayo Onanuga, Special Adviser to the President (Information & Strategy), on Thursday, June 26, 2025.
The president emphasised that these new legislations mark a pivotal step forward for Nigeria’s development.
The newly enacted laws include:
The Nigeria Tax Bill (Ease of Doing Business): This bill aims to streamline Nigeria’s existing fragmented tax laws into a more cohesive and harmonised statute, simplifying the tax landscape for businesses.
The Nigeria Tax Administration Bill: This legislation establishes a unified legal and operational framework for tax administration across all levels of government – federal, state, and local – promoting consistency and efficiency.
The Nigeria Revenue Service (Establishment) Bill: This bill repeals the current Federal Inland Revenue Service Act, replacing it with a more autonomous and performance-driven national revenue agency to be known as the Nigeria Revenue Service (NRS).
The Joint Revenue Board (Establishment) Bill: This bill introduces a formal governance structure designed to foster greater cooperation and collaboration between revenue authorities at all tiers of government.
During the signing ceremony at the State House, President Tinubu declared that the occasion ushered in “a new lease of life for every Nigerian and future generation.” He underscored the role of leadership in guiding the nation through necessary changes.
“What we did a few minutes ago is the way forward for our country’s prosperity,” President Tinubu stated. “Leadership must help people take off, lead the way, and navigate every turn and twist. We must help them reach their destination. That is what we are doing.”
He added, “We are in transit; we have changed the roads, we have changed some of the misgivings, and we have opened the doors to a new economy and business opportunities. We have shown the world that Nigeria is ready and open for business.”
The president commended the leadership and members of the National Assembly for their diligence in passing the bills, acknowledging that the process was not without its challenges. “It was initially difficult, but not all roads will be easy in nation-building,” the president remarked.
“What you have provided is leadership and courage in the face of mounting disputes. Nowhere in the world would tax reforms be easy.”
Mr Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, lauded President Tinubu’s leadership in facilitating the passage of the four bills.
He expressed gratitude for the president’s support, noting that the president provided guidance without micromanaging the committee’s work.
“History will remember you for good for transforming our country because you went for a fundamental reform,” Oyedele stated.
Dr Zacch Adedeji, Chairman of the Federal Inland Revenue Service, described the day as the happiest of his life, calling the passage of the bills “a dream come true”.
Senate President Godswill Akpabio also praised President Tinubu’s leadership qualities. “We have always known that you are a thinker, that you are intellectually sound, and that you care for your country,” Akpabio said.
“You campaigned based on change for the country. This law would last for generations to come.”
Akpabio extended his congratulations to members of the National Assembly and other stakeholders who contributed to the successful passage of the tax bills.
