President Bola Tinubu has sent four tax reform bills to the National Assembly, requesting legislative approval for measures aimed at overhauling the country’s tax system.

One of the bills seeks to rename the Federal Inland Revenue Service (FIRS) as the Nigeria Revenue Service (NRS). The proposal was contained in a letter read by Senate President, Godswill Akpabio, during plenary.

Titled “The Nigeria Revenue Service (Establishment) Bill,” the proposed legislation seeks to repeal the Federal Inland Revenue Service (Establishment) Act, No. 13, 2007, and establish the Nigeria Revenue Service to assess, collect, and account for revenues accruable to the federal government.

In addition to this, the letter included the “Nigeria Tax Bill,” which aims to provide a consolidated fiscal framework for taxation across the country. Another bill, the “Nigeria Tax Administration Bill,” is designed to create a clear legal framework for the consistent and efficient administration of tax laws, with the goal of facilitating tax compliance, reducing disputes, and optimising revenue collection.

The fourth bill, the “Joint Revenue Board (Establishment) Bill,” proposes the establishment of a Joint Revenue Board, the Tax Appeal Tribunal, and the Office of the Tax Ombudsman to oversee the harmonisation, coordination, and settlement of disputes related to revenue administration in Nigeria.

President Tinubu expressed confidence that the passage of these bills would enhance tax compliance, strengthen fiscal institutions, and foster a more effective and transparent tax regime. He added that the reforms would encourage investment, boost consumer spending, and stimulate economic growth.

The same bills were also submitted to the House of Representatives for consideration and passage.