President Bola Tinubu has officially signed into law four critical tax reform bills recently approved by the National Assembly.
The signing ceremony, held on Thursday at the Presidential Villa, was witnessed by top officials including lawmakers, governors, ministers, and presidential aides.
The newly enacted laws include:
The Nigeria Tax Bill
The Nigeria Tax Administration Bill
The Nigeria Revenue Service (Establishment) Bill
The Joint Revenue Board (Establishment) Bill
These legislative instruments were passed following “extensive consultations with various interest groups and stakeholders,” according to official sources.
A statement from the presidency emphasized that the reforms are expected to overhaul the nation’s tax structure, increase revenue collection, and improve Nigeria’s overall business climate, while also attracting both domestic and international investment.
Speaking at the event, Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, highlighted the importance of preparation for the new system’s implementation.
“It takes time for all the stakeholders, participants, operators, and the regulator to change the system.
So, with the magnanimity of the National Assembly, Mr President assented to the bills. So, the effective date will be January 1, 2026. We have six full months for both sensitisation and planning. This is also considering the fiscal year of the government because when you have this kind of change, it’s not what you do in the media.”
The transition period is intended to ensure a smooth adaptation for all involved parties before the laws take effect at the start of the next fiscal year.
