President Bola Tinubu on Thursday signed into law the four new tax bills recently passed by the National Assembly, describing the new laws as pivotal to the success of the administration’s reforms and the country’s prosperity.
The bills are the Nigeria Tax Bill (Ease of Doing Business), which aims to consolidate Nigeria’s fragmented tax laws into a harmonised statute; the Nigeria Tax Administration Bill, which will establish a uniform legal and operational framework for tax administration across federal, state, and local governments.
Others are the Nigeria Revenue Service (Establishment) Bill, which repeals the current Federal Inland Revenue Service Act and creates a more autonomous and performance-driven national revenue agency— the Nigeria Revenue Service (NRS); and the Joint Revenue Board (Establishment) Bill, which provides for a formal governance structure to facilitate cooperation between revenue authorities at all levels of government.
At the signing ceremony held in his office at the State House, President Tinubu said the occasion presented a new lease of life to every Nigerian and future generation.
“What we did a few minutes ago is the way forward for our country’s prosperity. 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.
“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. We have shown the world that Nigeria is ready and open for business,” the President stated.
President Tinubu commended the leadership and members of the National Assembly for passing the bills despite initial misunderstandings.
“It was initially difficult, but not all roads will be easy in nation-building. What you have provided is leadership and courage in the face of mounting disputes. Nowhere in the world would tax reforms be easy,” the President said.
Earlier, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr Taiwo Oyedele extolled the President’s leadership in enabling the passage of the four bills.
He thanked the President for all the support, without necessarily teleguiding the committee, and only asked necessary questions.
“History will remember you for good for transforming our country because you went for a fundamental reform.”
Oyedele told newsmen after the ceremony that President Tinubu has directed proper implementation of the laws while ensuring collective participation of all stakeholders.
His words: “The journey is just beginning, writing the law, no matter how beautiful, no matter how transformative, no matter how innovative,it means nothing if it is not properly implemented. So we are mindful of that. We are not going to relax.
“Mr President has given us the charge that now is time to move to implementation, and we are ready. We are prepared. It is not something we can do alone, even from the government side. It is something we have to be collective.”
Oyedele added that the committee will now include the private sector, public sector, civil society, professional bodies as well as international partners.
According to him: “The private sector, public sector, civil society, professional bodies, tax consultants, everyone, including our international partners, who mean well and will work for Nigeria.
“This is the time to implement with sincerity, lesser purpose, and with purpose, so that when we look back in another one or two years, three years, five years, 10 years down the line, we will say, Yes, we came together as a people, and we directed our country well”.
Most significantly, Oyedele announced that essential goods and services, including food, healthcare, education, transportation, and accommodation, are now exempted from VAT, a move expected to lower the cost of living for millions of Nigerians.
“These essential categories account for over 80% of average household spending in Nigeria. By removing VAT, we’re putting money back in the hands of ordinary people,” he added.
Also speaking, Chairman of the Federal Inland Revenue Service, Dr Zacch Adedeji, described the day as the happiest day of his life and the passage as a dream come true.
Adedeji further told newsmen after the signing ceremony that the implementation of the newly signed four landmark fiscal reform tax laws will commence January 1st, 2026.
He said the new tax laws will now build a framework for a more focused and unlocking system creating opportunities for all.
Adedeji further explained that the six-month period between the enactment of the new fiscal laws is designed to give Nigeria ample time to carefully prepare for their implementation, ensuring that all Nigerians are adequately sensitised.
He also disclosed that with the Nigeria Revenue Service Establishment law, the Federal Inland Revenue Service is now to be known as the Nigeria Revenue Service (NRS).
According to him, the new law now defines the NRS’s expanded mandate, including non-tax revenue collection, and laid out transparency, accountability, and efficiency mechanisms.
Said Adedeji: “The Nigeria Revenue Service (Establishment) Bill, the third bill, repeals the current Federal Inland Revenue Service Act and creates a more autonomous and performance-driven national revenue agency.
“Two hours ago before we were FIRS now we are Nigeria Revenue Service with expanded scope to focus on tax collection and with match efficiency”.
On his part, President of the Senate, Godswill Akpabio, eulogised President Tinubu for his sterling leadership qualities.
His words: “We have always known that you are a thinker, that you are intellectually sound, and that you care for your country. You campaigned based on change for the country.
“Those who have doubts can now dissect from two major actions. The first was the cancellation of fuel subsidy that many regimes could not oblitrate. You came and you did it and today, Nigeria is better for it.
“Many did not know that by the time you took office in 2023, Nigeria was on life support, we were using about 98% of the daily revenue of this country for debt servicing and almost 90% was on oil subsidy and so Nigeria was heading to the brinks of collapse. Then you came, and you said that God brought you for a time like this, and you are prepared to ensure that Nigeria was saved.
“Here again, you have harmonized the entire tax system in this country. Stamp Duties Act, I think it was in 1901, but last reviewed in 1939 and then here we are in year 2025 we are still operating uneven taxes and laws on taxations that were here before the colonial masters left, they were all incorporated into our laws and you said, this cannot be allowed to continue, Nigeria must be modernized and modernizing the tax system means bringing more money for the development of the country.
“Today, you are signing these historic bills into Acts of Parliament and I can tell you that even some of the states, when they see the outcome of what you are doing today, generations unborn will remember you.
“I want to say that myself and my brother, the Right Honourable Speaker, we had no doubt that you came with a vision and we were determined in parliament that nobody can thwart your mission for this country. You campaigned on the basis of changing the country, changing the perception and so there was no need for people, no matter what they said, the parliament was determined to look at the bills and find out whether indeed they were good for this country and they will benefit the vulnerable and the common man and woman in the society.
“At the end of almost 10 months of rigmarole debates, consultations, public hearings, we came to the conclusion that, yes, indeed, what you did and what you are doing now will be remembered for generations to come. No Parliament makes a law for one particular regime. Laws are meant to last, and these are laws that will last for generations to come.
“Nigeria has changed with what we are doing today and I want to congratulate the entire members of the House of Representatives and the Senate, and congratulate all Nigerians and all stakeholders who made contributions towards what we are doing here today”.
Also speaking to newsmen after the event,
Chairman of the Senate Committee on Finance, Senator Sani Musa and his counterpart in the House of Representatives, Hon James Faleke, praised the President’s courage, especially in the face of initial resistance.
Senator Musa likened the reform to the removal of fuel subsidy, another tough but necessary decision by the Tinubu administration.
“This isn’t about raising taxes. It’s about plugging leakages, leveraging technology, and ensuring fair contributions across all sectors,” he said, adding that state and local governments should expect increased revenue from 2026 onward.
Faleke said the National Assembly had taken its time to consult widely and harmonise over 70 disparate taxes across federal, state, and local governments.
His words: “This is a product of deep consultations and compromise. And laws are not static. We’re open to amending them if need be, in the national interest”.
Deji Elumoye
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