The tax reform proposals are intended to help low-income earners, small enterprises, and families that are struggling to make ends meet, President Bola Tinubu clarified on Thursday.
The four laws, he added, will consolidate Nigeria’s disjointed tax structure, remove unnecessary duplications, reduce red tape, bolster transparency and collaboration at all levels, and regain investor trust.
According to Naija News, the President made the announcement in a personally signed statement that was made public through his 𝕏 account. In it, he provided justification for his choice to sign and execute the tax reform bills.
The National Assembly had already approved the four bills: the Nigeria Tax Bill (Fair Taxation), the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.
According to President Tinubu, he is signing the laws to establish the framework for a modernized, equitable, and open tax system in Nigeria. He went on to say that the new tax system will encourage business, safeguard the weak, and raise money without penalizing efficiency.
“To all Nigerians,
“I will sign four historic tax reform laws into law in a few hours, launching our nation into a daring new age of economic administration.
“These changes go beyond making tax laws more straightforward. They provide targeted assistance for low-income workers, small companies, and hard-working families with the first significant, pro-people tax cuts in a decades.
“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.
“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.
“I applaud the National Assembly for its thorough evaluation, the Presidential Fiscal Policy and Tax Reform Committee for its diligent efforts, our subnational partners for their vital contributions, and, above all, the Nigerian people for continuing to believe in this reform agenda.
But this is just the beginning, not the conclusion.
“We are rewriting the social contract, not just signing tax bills. We are definitely on the way, even though we haven’t arrived yet.
“Simplify is our catchphrase. Change. Expand.
Declare to the world that Nigeria is open for business and that everyone has an equal opportunity this time.
In the announcement, Tinubu declared, “We are betting on a new Nigeria and building it block by block.”
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