From Juliana Taiwo-Obalonye, Abuja
President Bola Tinubu via his verified X handle, @officialABAT, yesterday said that the four landmark tax reform bills he signed into law yesterday were designed to bring tangible relief to ordinary Nigerians, restore fairness in the tax system and stimulate inclusive economic growth for the future.
He described the legislation as a decisive break from the past, adding that the reforms were tailored to ease the burden on working families, small businesses and low-income earners while eliminating inefficiencies that have long plagued Nigeria鈥檚 fiscal structure.
鈥淭hese reforms go beyond streamlining tax codes,鈥 the President said. 鈥淭hey 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,鈥 he assured.
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, represent what the President called a bold new era of economic governance.
According to him, they were intended to unify Nigeria鈥檚 previously disjointed tax regime, cut bureaucratic red tape and make revenue collection more transparent and efficient.
鈥淔or 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,鈥 Tinubu noted.
He noted that the reforms would not only simplify the tax system but also serve as tools for national renewal, delivering economic justice and rebuilding trust between the government and the governed.
鈥淲e 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,鈥 he stated.
Emphasising that the legislation was not merely about technical adjustments but a broader reimagining of Nigeria鈥檚 fiscal culture, the President declared: 鈥淲e are not just signing tax bills but rewriting the social contract. We are not there yet, but we are firmly on the road.鈥
He added that the new framework would not only ease life for citizens but also enhance investor confidence and position Nigeria as a competitive destination for business and innovation.
鈥淲e are also building a framework for the Nigeria of tomorrow, leaner, fairer and laser-focused on unlocking opportunities for all,鈥 he said.
The President commended the Presidential Fiscal Policy and Tax Reform Committee for its tireless work, praised the National Assembly for a rigorous review process and thanked the state governments for their contributions.
He also reserved special appreciation for the Nigerian people for keeping faith with this vision of reform. Summing up his vision, the President issued a call to action, saying, 鈥淪implify. Reform. Grow.鈥
鈥淟et 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.鈥
The bills, which took effect following the President鈥檚 assent yesterday afternoon, were expected to harmonise tax administration across federal and state levels, reduce duplication and corruption and make the tax process more predictable for individuals and businesses alike.