New Tax Laws, way for Nigeria’s prosperity — Tinubu

• To begin Operation January 1, 2026

BY BONNY AMADI WITH AGENCY REPORTS

Nigerian President, Bola Ahmed Tinubu has described the new tax laws which he signed on Thursday as the way forward for Nigeria’s economic prosperity.

The newly signed 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 at the State House, President Tinubu said that 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.

Meanwhile, Zacch Adedeji, the Executive Chairman of the Federal Inland Revenue Service (FIRS), which will now be known as the National Revenue Service (NRS), has announced that the newly signed four tax reform bills will become operational on January 1, 2026.

Adedeji said this timeline would give the administration six months for planning, sensitization, and alignment with the fiscal calendar.

The four new Acts are the Nigeria Tax Bill (Fair Taxation), Tax Administration Bill, Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.

He made the disclosure while addressing the State House Correspondents on Thursday, June 26, 2025, after the Presi- dent Bola Tinubu’s signing of the bills at the Presidential Villa