President Bola Ahmed Tinubu has signed into law four landmark tax reform bills passed by the National Assembly, declaring them essential tools for steering Nigeria toward long-term prosperity and economic transformation.
The newly signed laws include the Nigeria Tax Bill (Ease of Doing Business), the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.
Together, the reforms aim to harmonize tax statutes, streamline administration, and improve coordination across federal, state, and local government levels.
Speaking at the signing ceremony held at the Presidential Villa on Thursday, President Tinubu emphasized that the reforms mark a new beginning for Nigeria’s economy.
“This is the way forward for our country’s prosperity. We’ve opened the doors to a new economy, new opportunities, and we are showing the world that Nigeria is ready for business,” he said.
The President lauded the National Assembly for its resolve in passing the bills despite initial hurdles.
He noted that meaningful tax reforms are never easy but crucial for development and future stability.
Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr. Taiwo Oyedele, praised President Tinubu’s visionary leadership and hands-off approach, which allowed the committee to work independently while focusing on impactful solutions.
Mr. Oyedele stated, “History will remember you for transforming Nigeria because you opted for deep, fundamental reforms.”
Also speaking, the Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, described the moment as “the happiest day of my life,” noting that the passage of the Nigeria Revenue Service Bill brings to life a dream of building a more effective and autonomous revenue institution.
Senate President Godswill Akpabio hailed the President’s commitment to national development, describing him as a thinker and reformer.
“You campaigned on the promise of change. Today, these laws will outlive all of us,” Akpabio said.
He congratulated lawmakers and stakeholders for their input in ensuring the successful passage of the bills, which are expected to boost tax compliance, improve ease of doing business, and significantly increase government revenue.
COV/Bello Wakili
