President Bola Ahmed Tinubu has signed four tax reform bills into law, marking a significant milestone in Nigeria’s economic reform agenda. The ceremony took place at the State House in Abuja, with relevant stakeholders from across the arms of government in attendance.
The new laws include the Nigerian Tax Law, the Nigerian Tax Administration Law, the National Revenue Service (Establishment) Law and the Joint Revenue Board (Establishment) Law.
Earlier on Thursday, President Tinubu had explained that the laws would be unifying Nigeria’s fragmented tax system, removing redundant overlaps, boosting investor confidence, enhancing transparency, and promoting coordinated efforts across all levels.
He also described the legislation as a clear departure from previous policies, emphasising that the reforms are designed to ease the burden on working families, small businesses, and low-income earners while eliminating inefficiencies that have long plagued Nigeria’s fiscal structure.
On his verified X handle @officialABAT, the President had said that the new tax laws form the groundwork for the Nigeria of tomorrow, focused on unlocking opportunities for all.
“We are also building a framework for the Nigeria of tomorrow-leaner, fairer and laser-focused on unlocking opportunities for all.”
The Nigerian Leader 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.”
The Nation revealed the President stated that the outdated tax system had been overly complicated, unfair, and a heavy burden, particularly on the vulnerable, while also protecting inefficiency. “We are laying a foundation for a tax regime that is fair, transparent and fit for a modern, ambitious Nigeria. A tax regime that rewards enterprise, protects the vulnerable, and mobilises revenue without punishing productivity”, he said.
