NASS transmits tax reform bills for Tinubu’s assent

Four key tax reform bills have been formally delivered to President Bola Ahmed Tinubu, marking a significant step in the Federal Government’s quest to overhaul the country’s tax system.

This was disclosed on Wednesday by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, during the 50th birthday lecture of Mr. Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, held in Abuja.

Edun noted that the submission of the bills underscores the Federal Government’s commitment to reshaping Nigeria’s fiscal policy landscape.

The bills are: The Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.

“It was, I think, yesterday that the bills were finally delivered to Mr. President by the National Assembly for his assent,” Edun said, describing the moment as a critical milestone in the Tinubu administration’s reform agenda.

According to the Minister, once signed into law, the bills will significantly enhance the efficiency and fairness of Nigeria’s tax system, potentially doubling the country’s tax-to-GDP ratio, which currently ranks among the lowest globally.

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Edun added, “There is still hard work to be done in efficiently implementing the bills that have been passed, but they promise to transform the fiscal landscape.”

The Finance Minister praised President Tinubu’s determination in pushing the tax reform agenda forward despite various challenges. “Mr. President knew the value of those four tax reform bills and persisted through thick and thin, through turbulence and uncertainty — he just kept going,” Edun said.

He emphasized that the fiscal reforms championed by Oyedele’s committee are central to the President’s vision of lifting millions of Nigerians out of poverty. He identified key sectors such as agriculture, infrastructure (including digital infrastructure), and access to finance as strategic areas targeted for inclusive growth.

Edun concluded that the reforms would introduce a fairer and more transparent tax system aligned with global best practices. He credited Oyedele’s expertise and communication skills for making the complex reforms accessible to a broad audience.

“You had the grace and gift to take a complex subject and, time after time, tirelessly break it down and simplify it for all types of audiences — the high, the low, the knowledgeable, and the less knowledgeable. That is why we have, today, a set of proposed bills now ready for Mr. President to sign into law,” he stated.

NIGERIAN TRIBUNE