President Tinubu Enacts Four Tax Reform Bills

President Bola Tinubu on Thursday signed into law four tax reform bills, marking a significant overhaul of Nigeria’s fiscal landscape.

The new legislation includes the Nigeria Tax Bill, the Nigerian Tax Administration Bill, the National Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.

The assent ceremony, held at the Aso Rock Presidential Villa, Abuja, followed months of extensive consultations with diverse stakeholders and interest groups by the National Assembly.

Witnessing the signing were Senate President Godswill Akpabio, Speaker of the House of Representatives Tajudeen Abbas, leaders from both legislative chambers, chairmen of key finance committees, and governors like Abdulrahman Abdulrazaq (Chairman, Governors Forum) and Hope Uzodinma (Chairman, Progressive Governors Forum).

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Also present were Finance Minister Wale Edun and Attorney General of the Federation, Lateef Fagbemi.

The Presidency stated that these new tax statutes are to revolutionise tax administration nationwide, projecting increased revenue generation, an enhanced business climate, and a surge in both domestic and foreign investments.

Announcing the momentous occasion, the former Lagos State governor hailed the development as the dawn of a new era for Nigeria.
“I have just signed into Law the four fiscal reform bills. It is a NEW dawn for Nigeria”, Tinubu wrote on his X page.

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