In a significant step toward reforming Nigeria’s fiscal framework, President Bola Tinubu on Thursday signed into law four landmark tax bills passed by the National Assembly, including one that renames the Federal Inland Revenue Service (FIRS) to the Nigeria Revenue Service (NRS).
At a formal ceremony held in Abuja, President Tinubu described the new tax legislation as “pivotal to the success of this administration’s reforms and Nigeria’s economic prosperity.”
The newly enacted laws are:
- Nigeria Tax Bill (Ease of Doing Business) – aimed at consolidating Nigeria’s fragmented tax laws into a harmonised statute, simplifying tax compliance for businesses.
- Nigeria Tax Administration Bill – seeks to establish a uniform legal and operational tax framework across federal, state, and local government levels.
- Nigeria Revenue Service (Establishment) Bill – repeals the FIRS Act and creates amore autonomous, performance-driven national tax agency, now called the Nigeria Revenue Service (NRS).
- Joint Revenue Board (Establishment) Bill – provides a formal structure for inter-governmental cooperation among revenue authorities at all tiers of government.
The laws aim to streamline tax collection, enhance compliance, reduce administrative bottlenecks, and encourage business growth, in line with Tinubu’s broader economic reform agenda.
The Nigeria Employers’ Consultative Association (NECA) welcomed the development, describing the laws as a positive step toward creating a coherent, investor-friendly tax environment.
Analysts say the creation of the NRS and a Joint Revenue Board signals a strong move toward tax harmonisation, greater autonomy, and improved governance of revenue systems.
As Nigeria continues to navigate fiscal challenges and revenue shortfalls, the reforms are expected to improve coordination, boost public finances, and foster economic competitiveness.
