President Bola Tinubu has signed into law four tax reform bills recently approved by the National Assembly.
The signing took place during a brief ceremony held at the Presidential Villa on Thursday, attended by National Assembly leaders, several lawmakers, state governors, ministers, and presidential aides.
The bills signed into law are the Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill. These legislative measures were enacted following extensive consultations with stakeholders and various interest groups.
The presidency stated that the new laws are expected to bring about major improvements in the country’s tax system, including enhanced revenue collection, a more favorable business climate, and increased local and foreign investment.
Speaking to journalists, Federal Inland Revenue Service (FIRS) Chairman, Zacch Adedeji, announced that the new tax system will come into effect on January 1, 2026.
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