Daily Tax News Summary
President Bola Tinubu is scheduled to sign four major tax reform bills into law on 26 June 2025. According to five Nigerian news outlets, the legislation seeks to harmonise existing tax statutes, establish new administrative structures and boost revenue while improving the business environment.
Summary for Taxpayers
- Four separate bills will become law: Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and Joint Revenue Board (Establishment) Bill.
- The reforms aim to reduce multiple taxation, create a uniform nationwide administration framework and strengthen revenue generation.
- Government officials say the new regime is designed to address taxpayer concerns and bolster investor confidence.
Key Developments
Nigerian Leader To Sign Tax Reform Bills Into Law (Voice of Nigeria – 26 Jun 2025)
- Source: Voice of Nigeria
- Key Facts:
- President Tinubu will sign four tax bills into law on 26 June 2025.
- The Nigeria Tax Bill focuses on “harmonising tax laws” and reducing “tax multiplicity.”
- The Nigeria Tax Administration Bill creates a “uniform framework for tax administration.”
- Quote: "These [bills] are anticipated to reform Nigeria’s tax administration, boost revenue [and] improve the investment climate," Voice of Nigeria reported.
New tax regime underway as Tinubu signs bills into law today (The Guardian Nigeria News – 26 Jun 2025)
- Source: The Guardian Nigeria News
- Key Facts:
- The Presidency described the set of bills as “transformative for Nigeria’s fiscal and revenue framework.”
- Objectives include harmonising tax laws and reducing duplication to enhance the business environment.
- Revenue generation is identified as a core goal of the measures.
- Quote: The Guardian noted the reforms are intended to create “a more business-friendly environment and stronger revenue base.”
Tinubu to sign tax reform bills Thursday (Punch Newspapers – 25 Jun 2025)
- Source: Punch Newspapers
- Key Facts:
- The four bills were passed after “wide consultation,” Punch reported.
- They aim to “transform tax administration” and “increase government revenue.”
- Consolidation of existing tax laws is a central feature of the package.
- Quote: Punch wrote that the legislation seeks to create “an improved fiscal environment for citizens and investors alike.”
Tinubu signs tax reform bills into law Thursday (Radio Nigeria – 26 Jun 2025)
- Source: Radio Nigeria
- Key Facts:
- Radio Nigeria emphasised the goal of “harmonising tax statutes for ease of business.”
- The bills introduce a “uniform framework nationwide for tax administration.”
- Officials expect the measures to “increase revenue and investor confidence.”
- Quote: Radio Nigeria reported the reforms are set to “transform overall tax administration in Nigeria.”
Nigeria’s Emerging Tax Regime Responsive To Taxpayers’ Concerns – Minister (News Agency of Nigeria – 25 Jun 2025)
- Source: News Agency of Nigeria
- Key Facts:
- The Minister of State for Finance said the evolving regime addresses “taxpayer challenges” and focuses on dispute resolution.
- Initiatives such as TaxADR aim to strengthen collaboration and efficiency.
- Strengthening domestic revenue is prioritised amid global economic shifts.
- Quote: “Nigeria’s emerging tax regime is responsive to taxpayers’ concerns,” the Minister affirmed, according to NAN.
Prepared by MyTax - mytax.com.ng