President Bola Ahmed Tinubu has officially signed four key tax reform bills into law, marking a significant step toward overhauling Nigeria’s tax system.
The signing took place on Thursday at the State House in Abuja, with representatives from various branches of government in attendance.
The newly enacted legislation includes the Nigerian Tax Law, the Nigerian Tax Administration Law, the National Revenue Service (Establishment) Law, and the Joint Revenue Board (Establishment) Law.
Speaking earlier on Thursday, President Tinubu highlighted the purpose of the reforms, stating that they aim to unify Nigeria’s fragmented tax framework, eliminate duplication, boost investor confidence, and ensure greater transparency and cooperation across all levels of government.
He emphasized that the new laws represent a break from past approaches, prioritizing relief for working families, small businesses, and low-income earners while addressing longstanding inefficiencies in the country’s fiscal system.
Posting on his verified X account (@officialABAT), the President described the tax reforms as laying the foundation for a more prosperous Nigeria, with a focus on creating opportunities for all.
“We are also building a framework for the Nigeria of tomorrow, fairer and laser-focused on unlocking opportunities for all.”
The president explained that with the new tax reform laws, the Bola Tinubu-led Administration is now laying the foundation for a tax regime that is fair, transparent, and fit for a modern, ambitious Nigeria.
“These reforms go beyond streamlining tax codes. They deliver the first major, pro-people tax cuts in a generation, targeted relief for low-income earners, small businesses, and families working hard to make ends meet.
“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.
“We are laying a foundation for a tax regime that is fair, transparent,t and fit for a modern, ambitious Nigeria. A tax regime that rewards enterprise protects the vulnerable, and mobilizes revenue without punishing productivity”, he said.
