The National Assembly has transmitted four major tax reform bills to President Bola Ahmed Tinubu for assent, marking a significant step toward overhauling Nigeria’s fiscal framework and supporting the administration’s Renewed Hope Agenda. The legislative package includes the Joint Revenue Board (Establishment) Bill, the Nigeria Revenue Service (Establishment) Bill, the Nigeria Tax Administration Bill, and the Nigeria Tax Bill. Collectively, these bills aim to modernise the nation’s tax system, expand the tax base, reduce inefficiencies, and enhance coordination among the federal, state, and local governments.
Chairman of the Senate Committee on Media and Public Affairs, Senator Yemi Adaramodu, confirmed that the bills were transmitted after a careful harmonisation process by both chambers of the National Assembly. He explained that the joint review by Senate and House committees, legal advisory teams, and the leadership of both arms of the legislature was thorough and aimed at aligning the proposed laws with existing legal and administrative frameworks.
Senate President Godswill Akpabio commended the collaborative and nationally focused approach adopted throughout the legislative process. He highlighted that the National Assembly made necessary compromises, such as adjusting the proposed 60 percent VAT retention by the Federal Government down to 30 percent, in order to promote equity and balance among all tiers of government.
Once signed into law by President Tinubu, the reform bills are expected to deliver the most comprehensive restructuring of Nigeria’s tax administration in decades. The goal is to strengthen revenue collection, eliminate leakages, support fiscal federalism, and create a more efficient, transparent, and inclusive taxation system that can fund national development priorities.
