On Thursday, 26th June, 2025, President Bola Tinubu signed Four Tax Bills (Now Acts of the National Assembly) into Law. These New Acts, which are projected to transform Nigeria’s fiscal and revenue framework, include the Nigeria Tax Act, the Nigeria Tax Administration Act, the Nigeria Revenue Service (Establishment) Act, and the Joint Revenue Board (Establishment) Act. The lauded initiative is part of the President’s vision to transform Nigeria’s tax administration; it aims to generate more revenue by expanding the tax net, closing loopholes in the tax system, supporting Small and Medium Enterprises (SMEs), and attractingforeign investment. The new legislation consolidates Nigeria’s fragmented tax laws, reducing layers of taxation and eliminating duplications. This will enhance the ease of doing business, lessen taxpayer burdens, broaden the tax base, improve compliance, and foster a sustainable revenue framework to support national development.
PRESIDENT TINUBU SIGNS THE NIGERIAN TAX REFORM ACTS INTO LAW, OVERHAULING THE NIGERIAN TAX REGIME.
