Tinubu Signs Four Landmark Tax Reform Bills Into Law, Promises Relief for Low-Income Earners, Small Businesses
By: Israel Adeleke
OPEN TELEVISION NAIJA (OTN) News reports that President Bola Ahmed Tinubu has officially signed four sweeping tax reform bills into law, marking what he described as a “bold new era of economic governance” aimed at creating a fairer, more efficient, and pro-people fiscal system in Nigeria.
OTN News further reports that the bills, now Acts of Parliament, were signed into law during a ceremony attended by key leaders of the National Assembly, including Senate President, Godswill Akpabio, Speaker of the House of Representatives, Tajudeen Abbas, among others.
OTN News observes that their presence signaled legislative support for what the President called "the first major, pro-people tax cuts in a generation."
The newly signed Acts are: Nigeria Tax Bill (Fair Taxation); Nigeria Tax Administration Bill; Nigeria Revenue Service (Establishment) Bill; and Joint Revenue Board (Establishment) Bill.
Speaking during the signing ceremony, President Tinubu emphasized that the reforms are not just about consolidating tax codes but about fundamentally shifting the tax burden away from Nigeria’s most vulnerable.
He noted that the laws will deliver targeted relief for low-income earners, small businesses, and working families, making it easier for them to thrive in a challenging economic environment.
“These reforms are designed to bring sanity and equity to the tax system,” Tinubu said. “We are cutting red tape, eliminating duplications, and ensuring that small businesses and ordinary citizens are not strangled by multiple taxation.”
Beyond tax relief, the reforms are intended to unify Nigeria’s fragmented tax system, restore investor confidence, and promote transparency and efficiency across all levels of government.
Analysts say the move could mark a significant turning point in Nigeria’s fiscal landscape if effectively implemented, particularly at a time when the country grapples with revenue shortfalls and high inflation.
By streamlining the tax system and eliminating waste, the administration aims to broaden the tax base without overburdening those already struggling.
OTN News, however, observes that with these new laws, the Tinubu administration is signaling a commitment to structural reform and inclusive economic growth, even as it faces mounting pressure to stabilize the nation’s finances and reduce the cost of living for ordinary Nigerians.
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