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 at the State House, President Tinubu, in a statement by Presidential spokesman, Bayo Onanuga, 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.
"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.
Mr. Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, 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."
The 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.
Chairman of the Nigeria Revenue Service (NRS), Zacch Adedeji, has announced that President Bola Ahmed Tinubu's newly signed fiscal reform tax laws will officially take effect on January 1, 2026.
Adedeji disclosed in Abuja on Thursday, following the presidential assent to the four tax reform bills, which he described as a historic shift toward building a more inclusive, transparent, and efficient fiscal system.
President of the Senate, Godswill Akpabio, eulogised President Tinubu for his sterling leadership qualities.
"We have always known that you are a thinker, intellectually sound, and care for your country. You campaigned based on change for the country. This law would last for generations to come."
Akpabio congratulated members of the National Assembly and other stakeholders who made the passage of the tax bills possible.
Also, the Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, emphasised that while the laws mark a significant legislative achievement, the real task lies in practical implementation.
"No matter how transformative a law is, if it is not properly implemented, it amounts to nothing," Oyedele said. "Mr. President has now charged us to move into full implementation mode -- and we are ready."
He stressed that the reforms require an all-of-society approach, involving stakeholders from both public and private sectors, civil society, professional bodies, and international partners.
"This is not something the government can do alone. We need every well-meaning stakeholder -- private sector, public institutions, tax consultants, civil society, and global development partners -- to work together toward this national rebirth," Oyedele added.
He urged sincerity and commitment, noting that successful implementation would enable Nigerians to look back years from now with pride, knowing they collectively shaped a better fiscal future.
President Bola Tinubu had earlier described the tax reform bills as a "foundation for a leaner, fairer Nigeria," stressing that the aim is to eliminate inefficiencies, protect the vulnerable, and drive economic growth without punishing productivity.
The laws are part of his administration's broader Renewed Hope agenda to improve the business environment, boost revenue generation, and foster equitable development across the country.
With the January 2026 rollout date, government agencies and stakeholders face a crucial transition period to implement necessary structures and ensure the new tax laws deliver on their promises.
President Bola Ahmed Tinubu has signed the long-anticipated Tax Reform Bills into law, ushering in what Tax Analyst experts Aderonke Atoyebi described as the most comprehensive overhaul of Nigeria's tax system in decades.
Atoyebi said the reforms are far from routine bureaucratic updates and mark a bold shift in how government revenue is collected, distributed, and utilised. They aim to empower states, support businesses, and protect everyday Nigerians.
Nigeria's tax landscape has been plagued by overlapping laws, multiple levies, and confusing policies for years. The newly signed bills seek to reverse this trend by introducing clarity, fairness, and transparency.
The reforms are anchored on four key legislative instruments: The Nigeria Tax Bill: Harmonises existing tax laws into a single, simplified code to help citizens and businesses better understand their obligations.
The Nigeria Tax Administration Bill: Introduces standardised, technology-driven tax processes across all levels of government, prioritising digital compliance and transparency.
The Nigeria Revenue Service (Establishment) Bill replaces the Federal Inland Revenue Service with a more autonomous Nigeria Revenue Service that manages both tax and non-tax revenues.
The Joint Revenue Board (Establishment) Bill: Creates a formal platform for federal and state coordination, backed by oversight mechanisms like a Tax Appeal Tribunal and a Tax Ombudsman.
The new formula for distributing Value Added Tax (VAT) is a key highlight. Under the revised structure, 30% of VAT generated in a state remains there, 50% is shared equally among all states, and 20% is allocated based on population size. This formula rewards productivity and incentivises states to expand their local economies.
Also significant is the exemption of businesses earning below N50 million annually from company income tax, which is expected to ease pressure on micro and small enterprises and promote formalisation and growth.
The reform promises fewer arbitrary deductions, more explicit tax rules, and a more predictable tax environment for traders, artisans, freelancers, and salaried workers. It will also benefit youth and women-led enterprises in the digital and informal sectors.
Technical Assistant on Broadcast Media to the FIRS Chairman, Arabinrin Aderonke Atoyebi, said, "This is the kind of reform that speaks the language people understand. People want to know what they're paying, why they're paying it, and that it won't change without warning."
The Executive Chairman of the Federal Inland Revenue Service, Dr Zacch Adedeji, is credited with spearheading the reform agenda under the Renewed Hope Administration.
"These Tax Reform Bills are not just for the government--they are for the citizens. For once, the country feels like it is thinking straight," Atoyebi added.
If successfully implemented, the new tax regime could become a foundation for national development, driving accountability, expanding revenue, and restoring public trust in governance.
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Following the president's ascent of the new tax law earlier in the week, experts expect it to resolve previous tax challenges while enhancing the ease of Doing Business in the country.
On his part, the Immediate past president of the Chartered Institute of Taxation of Nigeria (CITN), Mr Adeshina Adedayo, described the signing as a welcome development that would boost the ease of doing business there.
"The bills signed into law are a welcome development, and they will help businesses to navigate tax challenges with clarity. This will be a positive boost to the ease of doing business."
Moreover, the head of Financial Institutions Ratings at Augusto&Co, Ayokunle Olubunmi, said that with the signing of the TX bills into law, changes are expected within the fiscal system to allow full implementation of the reforms.
Noting that the president now has the legal backing for the proposed changes in the fiscal system, particularly tax generation and administration, he added that, "while some changes in the fiscal system is expected in the next few months, the full impact of the proposed changes would be in the medium term given the structural reforms needed for the full implementation."
Similarly, Dr. Muda Yusuf, the director/CEO of the Centre for the Promotion of Private Enterprise (CPPE), highlighted that it is a significant step forward.
He believes this legislation will effectively tackle many challenges faced in tax administration, particularly issues like multiple taxation, outdated tax laws, and overall efficiency.
"With the incorporation of more technology, we can expect an increase in revenue generation, which is promising. While this development is encouraging, it is important to recognise that reform is ongoing. As the implementation unfolds, areas may require adjustments to enhance effectiveness," Yusuf explained.
He added, "This new tax law represents a constructive advancement for the private sector, manufacturers, and the wider community. It sets the foundation for continued improvement in our tax system."
