President Bola Ahmed Tinubu on Thursday signed into law four major tax reform bills passed by the National Assembly, describing the occasion as a crucial step toward unlocking economic growth and fostering structural transformation in Nigeria.
The newly enacted laws, the Nigeria Tax Bill (Ease of Doing Business), Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill, are central to the administration’s broader economic reform strategy.
During the signing ceremony at the State House in Abuja, President Tinubu stated that the new legislation signals a turning point for the country’s future.
“We are in transit; we have changed the roads, we have changed some of the misgivings, we have opened the doors to a new economy, business opportunities,” he declared.
“We have shown the world that Nigeria is ready and open for business.”
The President commended the National Assembly for its commitment and resolve in navigating the difficult path of tax reform.
“Nowhere in the world would tax reforms be easy,” he noted, acknowledging both the complexity of the process and its necessity.
The reforms are designed to harmonise Nigeria’s fragmented tax system, enhance transparency, and strengthen cooperation across federal, state, and local governments.
A significant feature is the Nigeria Revenue Service (Establishment) Bill, which replaces the Federal Inland Revenue Service Act. The new law establishes a more autonomous and performance-oriented tax authority.
Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr Taiwo Oyedele, praised President Tinubu’s resolve to pursue deep structural changes rather than superficial fixes.
“History will remember you for good,” he remarked.
Similarly, Executive Chairman of the Federal Inland Revenue Service, Dr Zacch Adedeji, described the signing of the bills as “the happiest day of my life” and the fulfilment of a long-held aspiration.
Senate President Godswill Akpabio also hailed the development, saying the reforms would deliver enduring benefits to future generations.
In a post-signing media briefing, Dr Adedeji confirmed that the implementation of the new tax laws will commence on 1 January 2026. He said the delayed start was deliberate, aimed at giving all stakeholders sufficient time to adjust.
“Based on global best practices, this kind of systemic reform requires a transition period. With the backing of the National Assembly and Mr President, the effective date will be January 1, 2026, by the grace of God,” he said.
Dr Adedeji explained that aligning the reforms with the start of the calendar year ensures smoother integration with the national budget cycle.
“When you have this kind of change, it’s not what you do mid-year. If the application of the law is to be effective, it is best to begin from the start of the year,” he added.
The sweeping reforms are expected to improve ease of doing business, boost revenue generation, and reinforce investor confidence in Nigeria’s economic governance.
