Tinubu receives four Tax Reform Bills
President Bola Ahmed Tinubu is now in possession of four key tax reform bills that are set to reshape Nigeria’s fiscal policy landscape.
The bills were formally delivered to the President by the National Assembly on Tuesday, marking a significant step in the federal government’s ambitious drive to overhaul the country’s tax system.
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.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, stated this during the 50th birthday lecture of Mr. Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, held in Abuja.
“It was, I think, yesterday that it was finally delivered to Mr. President by the National Assembly for him to sign off on the four tax reform bills,” Edun said, describing the moment as a critical milestone in the Tinubu administration’s reform agenda.
The Minister said the bills, once signed into law, are expected to significantly improve the efficiency and fairness of Nigeria’s tax system, while nearly doubling the country’s tax-to-GDP ratio, which remains among the lowest globally.
“There is still hard work to be done in efficiently implementing the bills that have been passed. But they promise to change the fiscal landscape,” he said.
Edun praised President Tinubu’s persistence in steering the tax reform process through challenging times, stating, “Mr. President knew the value of those four tax reform bills and kept going through thick and thin, through turbulence and through wind. He just kept going, supporting you,” he said, referring to Oyedele.
According to Edun, the fiscal reforms championed by the Committee are central to Tinubu’s goal of lifting millions of Nigerians out of poverty. He pointed to strategic areas such as agriculture, infrastructure (including digital infrastructure), and access to finance as sectors targeted for inclusive growth.
He credited Oyedele’s expertise and communication skills for making the reforms broadly accessible. “You had the grace, the gift of being able 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, the less knowledgeable,” Edun said. “And that’s why we have today success in terms of a proposal for proposed bills that are now ready for Mr. President to sign into law.”
The Minister said the reforms will introduce a fairer, more transparent tax system aligned with global best practices.
“They will give greater fairness. They will give clarity. They will give ease of administration, best practice around the world. And ultimately… they’ll give more revenue for government so that the legitimate demands of our people can be met in social services, health, education, and basic infrastructure.”
Edun also referenced Oyedele’s impact on public attitudes toward taxation. “You went out and you saw and heard from people that they didn’t feel they were in any way obliged to pay tax. You have worked tirelessly to help change people’s perspective on that,” he said, adding that voluntary compliance plays a crucial role in the effectiveness of tax policies.
Oyedele offered a critical assessment of the country’s economic environment, stating that regulatory bottlenecks and tariff burdens were equivalent to granting tax waivers to a few, while discouraging investment and productivity.
“Addressing our tariffs and regulatory hurdles is the equivalent of granting waiver from all income and consumption taxes. We also need fiscal reforms to complement a strong and stable Naira, such as payments of all taxes in Naira,” he said.
Oyedele stressed that the work of the committee was far from finished. He called for a downward revision of corporate tax rates to attract new investments and stimulate economic expansion, warning that high tax rates, especially in an inflationary environment, amount to taxing capital instead of profit.
He said Nigeria must also resolve issues of regulatory overreach and embrace digitisation as part of its economic reform package. “We must refine our tariff system to reduce the rates on raw materials and intermediate products, which currently are twice the average for sub-Saharan Africa,” Oyedele said.
He cautioned the elite to resist the temptation of simplistic solutions in public policy debates. “The elites must apply more intellectual rigour in policy debates, challenge long-held theoretical beliefs and question assumptions within context. We must avoid crowd-pleasing analysis because after the applause, the pain remains.”
Offering practical advice to government, Oyedele suggested that public institutions should only carry out tasks that the private sector cannot do, and should do so efficiently, collecting the least amount of tax necessary to meet basic public service standards.
He also spoke to the need for quality, non-inflationary spending by government, urging greater prudence and planning in fiscal policy implementation. According to him, ordinary Nigerians must also rise to the responsibility of civic participation.
“The people must seek first to understand—ignorance compounds vulnerability and steals opportunities. We must think independently, ask questions, engage, and criticise constructively with the sole aim to build, not tear apart, our country,” he said.
The lecture served as a personal tribute to Oyedele and a broader reflection on Nigeria’s path to sustainable development through fiscal responsibility, tax reform, and inclusive governance. The next step now lies with the President, whose assent to the bills will formally launch a new chapter in Nigeria’s tax administration.
