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President Tinubu Signs Tax Reform Bills Into Law

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President Bola Ahmad Tinubu

 

President Bola Tinubu has signed into law four tax reform bills on key areas of Nigeria’s fiscal and revenue framework.

Tinubu signed the bills at a ceremony held at the Aso Rock Presidential Villa, Abuja, at about 03:20pm local time on Thursday.

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

They were passed by the National Assembly after months of consultations with various interest groups and stakeholders.
When the new tax laws become operational, they are expected to significantly transform tax administration in the country, leading to increased revenue generation, improved business environment, and a boost in domestic and foreign investments,” Onanuga said.

The presidential assent to the bills was witnessed by the Senate President, Speaker of the House of Representatives, Senate Majority Leader, House Majority Leader, chairman of the Senate Committee on Finance, and his House counterpart.

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When the new tax laws become operational, they are expected to significantly transform tax administration in the country, leading to increased revenue generation, improved business environment, and a boost in domestic and foreign investments,” Onanuga said.

The presidential assent to the bills was witnessed by the Senate President, Speaker of the House of Representatives, Senate Majority Leader, House Majority Leader, chairman of the Senate Committee on Finance, and his House counterpart.

The Chairman of the Governors Forum, Abdulrahman Abdulrazaq of Kwara State; the Chairman of the Progressives Governors Forum, Hope Uzodinma of Imo State; the Minister of Finance and Coordination Minister of the Economy, Wale Edun; and the Attorney General of the Federation, Lateef Fagbemi, were also at the ceremony.

One of the four bills is the Nigeria Tax Bill (Ease of Doing Business), which aims to consolidate Nigeria’s fragmented tax laws into a harmonised statute.

“By reducing the multiplicity of taxes and eliminating duplication, the bill will enhance the ease of doing business, reduce taxpayer compliance burdens, and create a more predictable fiscal environment,” said the Presidency in a statement Wednesday night.

The second bill, the Nigeria Tax Administration Bill, will establish a uniform legal and operational framework for tax administration across federal, state, and local governments.

The Nigeria Revenue Service (Establishment) Bill, the third bill, repeals the current Federal Inland Revenue Service Act and creates a more autonomous and performance-driven national revenue agency— the Nigeria Revenue Service.

It defines the NRS’s expanded mandate, including non-tax revenue collection, and lays out transparency, accountability, and efficiency mechanisms.

The fourth bill is the Joint Revenue Board (Establishment) Bill.

It provides for a formal governance structure to facilitate cooperation between revenue authorities at all levels of government. It introduces essential oversight mechanisms, including establishing a Tax Appeal Tribunal and an Office of the Tax Ombudsman.

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NANS-RN Disowns Alleged ‘President’, Warns Public Against Impostor

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The recognised leadership of the National Association of Nigerian Students, Republic of Niger Chapter (NANS-RN), has distanced itself from one Abubakar Muhammad Uwaisu, accusing him of falsely parading himself as the “National President” of the association.
In a press disclaimer issued by the association’s Secretary General, Comrade Mustapha Y. Haruna, the group described Uwaisu’s claim as “false, baseless, and a deliberate act of impersonation and misrepresentation.”

The association stated that Uwaisu “is not, and has never been” its president, urging the public, media organisations, government agencies, and diplomatic stakeholders to disregard any statements or representations made by him in that capacity.

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NANS-RN further alleged that Uwaisu lacks the qualifications and institutional backing required to assume any leadership role within the body, noting that leadership within the association is based on due process, legitimacy, and the confidence of its members.

The statement also raised concerns about alleged conduct attributed to Uwaisu, including remarks directed at Musa S. Mamman, Secretary General of the Nigeria–Niger Joint Commission, whom the association described as a respected diplomat with a record of national service.

The association cautioned key institutions such as the National Youth Service Corps and the Federal Ministry of Education against engaging with Uwaisu under any official pretence, emphasising that he does not represent Nigerian students in the Republic of Niger.

Reaffirming its commitment to protecting the integrity and unity of the student body, the leadership said it would pursue all lawful measures to safeguard the association’s image.

It also urged stakeholders to verify official communications through recognised NANS-RN channels to avoid being misled.

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UAE to Withdraw from OPEC Effective May 1, 2026

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By Yusuf Danjuma Yunusa

The United Arab Emirates (UAE) announced on Tuesday that it will withdraw from the Organization of the Petroleum Exporting Countries (OPEC) and the broader OPEC+ alliance, effective May 1, 2026.

The decision, reported by a Dubai-based local media outlet, stems from the UAE’s long-term strategic and economic vision as its energy profile evolves. This includes accelerated investments in domestic energy production, following a comprehensive review of the country’s current and future production capacity, as well as its overall output policy.

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“This would be based on the UAE’s national interest and commitment to contributing effectively to meeting the market’s pressing needs,” the report added.

The UAE stated that it will continue to act as a responsible and reliable energy supplier, bringing additional production to the market gradually and measuredly, in line with demand and market conditions.

The Emirates also reaffirmed its commitment to investing across the entire energy value chain—including oil and gas, renewables, and low-carbon solutions—and to working with partners to ensure stable global supply.

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Abe Resumes as NUPRC Board Chairman, Pledges Improved Leadership

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By Yusuf Danjuma Yunusa

Senator Magnus Abe officially resumed as Chairman of the Board of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) today, vowing to enhance the regulatory body’s capacity to fulfill its statutory mandate.

Speaking at the Commission’s headquarters shortly after his inauguration, Abe promised to provide stronger leadership and oversight while also committing to securing a more befitting office for the NUPRC to maximize staff productivity.

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“I want to assure management that we are here strategically to work with you and see that, as much as possible, we work together to uplift the Commission and to help our country,” Abe said.

The Chairman emphasized that the board’s core purpose is to deliver better leadership and oversight to the regulatory agency.

In her remarks, NUPRC Commission Chief Executive Mrs. Oritsemeyiwa Eyesan congratulated the new board members, noting that the Commission depends on them for direction in line with the Petroleum Industry Act.

Eyesan described the inauguration as coming at a “most auspicious moment,” particularly amid the current spike in oil and gas prices triggered by the ongoing Middle East crisis.

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