President Bola Ahmed Tinubu is set to sign into law four landmark tax reform bills aimed at overhauling Nigeria’s tax system, simplifying processes, and offering relief to low-income earners and small businesses.
In a statement issued on Thursday and published on his X account, President Tinubu described the moment as “a bold new era of economic governance,” promising that the new laws will not only streamline the country’s fragmented tax codes but also deliver “the first major, pro-people tax cuts in a generation.”
Grassroots Parrot reports that the four bills include the Nigeria Tax Bill (Fair Taxation), Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and Joint Revenue Board (Establishment) Bill.
“These reforms go beyond streamlining tax codes,” Tinubu stated. “They deliver targeted relief for low-income earners, small businesses, and families working hard to make ends meet.”
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According to the President, the bills will unify the tax system, eliminate duplication and inefficiencies, cut bureaucratic red tape, and restore confidence among investors.
“For too long, our tax system has been a patchwork — complex, inequitable, and burdensome,” he said. “It has weighed down the vulnerable and shielded inefficiency. That era ends today.”
He emphasized that the reforms are designed to build “a tax regime that rewards enterprise, protects the vulnerable, and mobilises revenue without punishing productivity.”
President Tinubu also thanked key stakeholders for making the reforms possible, including the Presidential Fiscal Policy and Tax Reform Committee, the National Assembly, subnational partners, and the Nigerian people.
“I commend… most importantly, the Nigerian people for keeping faith with this vision of reform,” he said. “We are not just signing tax bills but rewriting the social contract. We are not there yet, but we are firmly on the road.”
The President ended the address with a message of hope and determination:
“Let the world know that Nigeria is open for business, and this time, everyone has a fair shot. We are betting on a new Nigeria and building it block by block.”