Tinubu Signs Landmark Tax Reform Bills into Law, Rejects NDLEA and Library Fund Amendments

President Bola Ahmed Tinubu has officially signed four transformative tax reform bills into law, marking a pivotal step in overhauling Nigeria’s revenue system. The signing ceremony, held at the Presidential Villa on Thursday, was attended by top government officials, including National Assembly leaders, state governors, cabinet ministers, and presidential aides.

New Tax Laws Set to Boost Revenue and Investment Climate

The newly assented bills are:

• Nigeria Tax Bill

• Nigeria Tax Administration Bill

• Nigeria Revenue Service (Establishment) Bill

• Joint Revenue Board (Establishment) Bill

Passed by the National Assembly after extensive stakeholder consultations, these laws are designed to streamline tax processes, enhance compliance, and modernize revenue administration across the country. The presidency described the reforms as “a major leap forward” in the effort to increase government revenue, foster a more business-friendly environment, and attract both domestic and foreign investments.

President Bola Ahmed Tinubu

NDLEA Bill Rejected Over Financial Concerns

In a contrasting move, President Tinubu declined to sign the National Drug Law Enforcement Agency (NDLEA) Bill, 2025, citing financial regulatory violations. The rejected bill had proposed allowing the NDLEA to retain a percentage of proceeds from seized drug-related assets.

In a letter read by House Speaker Tajudeen Abbas during plenary, Tinubu stressed that:

“All proceeds of crime must be paid into the Confiscated and Forfeited Properties Account. Disbursements to any recovery agency require presidential approval with consent from the Federal Executive Council and the National Assembly.”

He emphasized that the current system ensures transparency, oversight, and accountability—making the proposed changes both unnecessary and potentially risky.

🔁Second Rejection in One Week

Earlier this week, the President also rejected the National Assembly Library Trust Fund Amendment Bill, 2025, pointing to inconsistencies with existing laws on funding structures, taxation, and public sector remuneration.

What This Means for Nigeria
President Tinubu’s contrasting decisions reflect a calculated approach to reform—supporting systemic modernization in revenue administration while preserving institutional accountability in other sectors.

With the tax reforms now law, attention turns to their implementation and impact on Nigeria’s fiscal landscape, as well as the government’s broader economic agenda under the Renewed Hope mantra.

Written by Boom RadioNG