President Bola Ahmed Tinubu has signed into law four new tax bills aimed at restructuring Nigeria’s fiscal system and improving government revenue. The new legislation is part of the administration’s broader economic reform agenda to reduce dependency on oil and broaden the country’s tax base.
According to the Presidency, the bills address key areas such as streamlining tax collection, eliminating redundant levies, and incentivizing compliance for small and medium-sized businesses. The move is also expected to help close Nigeria’s fiscal deficit and improve funding for infrastructure, education, and healthcare.
Tax experts have praised the reforms, saying they will create a more predictable and investor-friendly environment. However, some have warned that implementation will be key, especially in curbing corruption and ensuring that revenues are properly accounted for.
This latest move aligns with Tinubu’s promise to bring structural change to Nigeria’s economy through bold reforms and strong fiscal discipline.
