President Bola Ahmed Tinubu has signed into law four significant tax reform bills, declaring them a transformative step toward easing the financial burden on Nigerians and laying the groundwork for a fairer, more inclusive economy.

 

Speaking on Thursday via a personal message shared on his verified X handle, @officialABAT, President Tinubu described the legislation as “a decisive break from the past,” aimed at correcting longstanding inefficiencies in Nigeria’s tax system.

 

“These reforms go beyond streamlining tax codes,” Tinubu noted. “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.”

 

The new laws include the Nigeria Tax Bill (Fair Taxation), Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill. Together, they mark what the President called “a bold new era of economic governance.”

 

He explained that the reforms will simplify Nigeria’s fragmented tax framework, reduce red tape, and introduce transparency and efficiency in revenue collection. “For too long, our tax system has been a patchwork—complex, inequitable, and burdensome. That era ends today,” he declared.

 

President Tinubu emphasized that the new tax regime is not just a technical overhaul but a broader vision for national renewal. “We are not just signing tax bills but rewriting the social contract,” he said. “We are building a system that rewards productivity, protects the vulnerable, and ensures fairness.”

 

He added that these reforms would also boost investor confidence and improve Nigeria’s global competitiveness. “We are also building a framework for the Nigeria of tomorrow — leaner, fairer, and laser-focused on unlocking opportunities for all,” he said.

 

Commending the Presidential Fiscal Policy and Tax Reform Committee, the National Assembly, state governments, and Nigerians for their support, President Tinubu expressed gratitude for their contributions and trust in the reform process.

 

The bills are expected to harmonize tax practices across federal and state levels, reduce duplication and corruption, and make compliance more predictable for citizens and businesses.

 

Ending on a visionary note, the President called for collective national commitment: “Simplify. Reform. Grow. Let the world know that Nigeria is open for business, and this time, everyone has a fair shot.”