President Bola Ahmed Tinubu has announced that he is going to sign four landmark tax reform bills into law to eliminate wasteful duplications and give everyone a fair shot in doing business with Nigeria.
He announced; “Let the world know that Nigeria is open for business, and this time, everyone has a fair shot.”
This was announced on the president’s official social media account on Thursday.
The bills; the Nigeria Tax Bill (Fair Taxation), Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill, according to him, will unify Nigeria’s fragmented tax system.
He said; “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.
“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 four 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 our fragmented tax system, eliminate wasteful duplications, cut red tape, restore investor confidence, and entrench transparency and coordination at every level.”
Explaining why it is a necessary step, the president stated that the tax system has weighed down the vulnerable citizens.
He therefore, assured Nigerians that such era has come to an end, today (26th, June, 2025).
He added; “For too long, our tax system has been a patchwork—complex, inequitable, and burdensome. It has weighed down the vulnerable and shielded inefficiency. That era ends today.
“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.
“We are also building a framework for the Nigeria of tomorrow — leaner, fairer, and laser-focused on unlocking opportunities for all.”
While he commented the Presidential Fiscal Policy and Tax Reform Committe for working tirelessly and serving Nigerians to the best. He also extended his gratitude to entire Nigerians including the Assembly members and subnational partners.
“I commend the Presidential Fiscal Policy and Tax Reform Committee for its tireless work, the National Assembly for its rigorous review, our subnational partners for their critical contributions, and, most importantly, the Nigerian people for keeping faith with this vision of reform.
“However, this is a beginning, not an end.
“We are not just signing tax bills but rewriting the social contract. We are not there yet, but we are firmly on the road.
“This is our rallying cry: Simplify. Reform. Grow.
“Let the world know that Nigeria is open for business, and this time, everyone has a fair shot.
“We are betting on a new Nigeria and building it block by block,” the president concluded.
