By Anwar Usman
The President of Nigeria, Bola Ahmed Tinubu, has today signed the four tax reform bills into law.
The bills, which he said will transform Nigeria’s fiscal and revenue framework, were signed at the Presidential Villa in Abuja on Thursday afternoon.
The four bills include the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill, which were recently passed by the National Assembly.
Those present at the signing ceremony were Senate President Godswill Akpabio, Speaker of the House of Representatives, Tajudeen Abbas; Senate Majority Leader, House Majority Leader, chairman of the Senate Committee on Finance, and his House of Representatives counterpart.
On Wednesday, Bayo Onanuga, Special Adviser to the President on Information and Strategy, stated that the implementation of the new tax laws would significantly transform tax administration in the country, leading to increased revenue generation, an improved business environment, and a boost in domestic and foreign investments.