Why I’m Enacting Four Tax Reform Bills into Law — Tinubu
Why I’m Enacting Four Tax Reform Bills into Law — Tinubu
The four tax reform bills, initially introduced by the executive, sparked controversy months ago due to strong opposition from Northern lawmakers, state governors, and other stakeholders—particularly over the proposed changes to Value Added Tax (VAT) distribution.
However, after extensive consultations and back-and-forth negotiations, the bills eventually cleared all legislative hurdles and were transmitted to the President for assent.
Following the National Assembly’s submission, the Presidency has confirmed the President’s readiness to sign the bills into law today (Thursday).
Also, in a statement via his personal X account on Thursday, President Tinubu further reaffirmed readiness to assent to those bills, stating reasons they are essential for the country’s economic recovery.
According to him, the four ‘landmark’ bills will usher in a bold new era of economic governance, stating that 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,” he said.
The President noted that the four tax reform bills — the Nigeria Tax Bill (Fair Taxation), Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill, will unify Nigeria’s fragmented tax system, eliminate wasteful duplications, cut red tape, restore investor confidence, and entrench transparency and coordination at every level.
For far too long, our tax system has been disjointed—overly complicated, unfair, and burdensome. It has placed undue pressure on the vulnerable while allowing inefficiencies to persist. That chapter ends today.
We are now establishing the groundwork for a new tax regime—one that is fair, transparent, and aligned with the vision of a modern, forward-looking Nigeria. A system that encourages entrepreneurship, safeguards the vulnerable, and generates revenue without stifling productivity.
