President Bola Ahmed Tinubu has announced his readiness to sign four critical tax reform bills into law, describing them as a watershed moment in Nigeria’s economic journey and a bold step toward fairness, simplicity, and inclusive growth.
In a nationwide statement on Thursday, President Tinubu likened the existing tax structure to a rickety house built on shaky foundations, declaring that “the era of a patchwork, inequitable and burdensome tax system ends today.”
“In a few hours, I will sign four landmark tax reform bills into law, ushering in a bold new era of economic governance in our country,” Tinubu said, setting the tone for what he called “the first major, pro-people tax cuts in a generation.”
The four bills — the Nigeria Tax Bill (Fair Taxation), Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill — are designed to unify the country’s fragmented tax regime, reduce bureaucratic bottlenecks, and foster investor confidence.
“These reforms go beyond streamlining tax codes,” he said. “They deliver targeted relief for low-income earners, small businesses, and families working hard to make ends meet.”
According to the President, the reforms aim to “eliminate wasteful duplications, cut red tape, restore investor confidence, and entrench transparency and coordination at every level.”
He added, “We are laying the 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.”
With these bills, the President says his administration is not merely updating legislation but rebuilding the trust between government and the governed.
“We are not just signing tax bills but rewriting the social contract. We are not there yet, but we are firmly on the road.”
Thanking stakeholders for their roles in shaping the reforms, Tinubu commended the Presidential Fiscal Policy and Tax Reform Committee for its dedication, the National Assembly for its scrutiny, subnational governments for their collaboration, and Nigerians for their patience.
“This is our rallying cry: Simplify. Reform. Grow,” he declared. “Let the world know that Nigeria is open for business, and this time, everyone has a fair shot.”
As the nation watches this new chapter unfold, the President reaffirmed his commitment to building a future where the tax system no longer feels like a burden but a ladder to national prosperity.
“We are betting on a new Nigeria and building it block by block,” he said.
