President Bola Tinubu has enacted four significant tax reform bills into law, designed to consolidate Nigeria’s disjointed tax framework.
The new legislation also aims to eliminate redundancies, enhance investor trust, and create a more equitable and transparent tax system.
The signing event, held on Thursday at the Presidential Villa in Abuja, was described by the President as a “bold and foundational shift” in Nigeria’s fiscal policy approach.
The National Assembly approved the four bills—the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill—following consultations with various stakeholders and interest groups.
According to the presidency, these new tax laws will fundamentally transform tax administration in the country, leading to increased revenue, an improved business environment, and greater attraction of both foreign and domestic investment.
A Gentle Reminder: Every obstacle is a stepping stone, every morning; a chance to go again, and those little steps take you closer to your dream.
Nnamdi Okoli