President Bola Tinubu has officially signed four significant tax reform bills into law, describing the development as a “bold new era of economic governance” for Nigeria.
The signing ceremony took place in the presence of top National Assembly leaders, including the Senate President, Godswill Akpabio, and the Speaker of the House of Representatives, Tajudeen Abbas.
Speaking during the event, President Tinubu stated that the reforms would go beyond merely reorganising tax codes.
According to him, “the reforms are meant to deliver the first major, pro-people tax cuts in a generation.” He noted that the newly enacted laws will provide “targeted relief for low-income earners, small businesses and families working hard to make ends meet.”
The newly signed bills are the Nigeria Tax Bill (Fair Taxation), Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.
President Tinubu added that the overarching goal of the reforms is to “unify the country’s fragmented tax system, eliminate wasteful duplications, cut red tape, restore investor confidence, and entrench transparency and coordination at every level.”
