President Bola Ahmed Tinubu on Thursday announced the signing of four major tax reform bills into law, describing the move as a bold step toward establishing a fairer and more transparent tax system in Nigeria.
The president emphasized that the new laws are designed to provide relief to low-income earners, small businesses, and struggling families across the country.
In a personally signed statement shared via his official X (formerly Twitter) account, President Tinubu explained that the reforms are aimed at modernizing Nigeria’s tax architecture while eliminating inefficiencies that have long hindered economic growth and discouraged investment.
“In a few hours, I will sign four landmark tax reform bills into law, ushering in a bold new era of economic governance in our country,” the president said.
The four bills include:
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The Nigeria Tax Bill (Fair Taxation)
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The Nigeria Tax Administration Bill
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The Nigeria Revenue Service (Establishment) Bill
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The Joint Revenue Board (Establishment) Bill
According to President Tinubu, the newly signed legislation will unify Nigeria’s fragmented tax system, eliminate redundant processes, reduce bureaucratic red tape, and restore investor confidence. The reforms, he noted, also aim to entrench transparency, coordination, and accountability at all levels of government.
“For too long, our tax system has been a patchwork complex, inequitable, and burdensome. It has weighed down the vulnerable and shielded inefficiency. That era ends today,” the president said.
He described the reforms as “the first major, pro-people tax cuts in a generation,” targeting individuals and businesses who have long borne the brunt of the country’s inconsistent tax policies.
President Tinubu lauded the efforts of the Presidential Fiscal Policy and Tax Reform Committee, the National Assembly, and subnational governments for their roles in bringing the reforms to fruition. He also thanked Nigerians for their patience and support.
“We are not just signing tax bills but rewriting the social contract. We are not there yet, but we are firmly on the road,” he said.
“Let the world know that Nigeria is open for business, and this time, everyone has a fair shot.”
The President concluded by reaffirming his administration’s commitment to building a leaner, fairer, and more opportunity-driven economy, anchored on efficiency, transparency, and inclusive growth.
The passage and signing of the tax reform bills mark a significant milestone in Tinubu’s economic agenda and come amid ongoing efforts to reposition Nigeria as an attractive destination for investors.
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