President Bola Tinubu has received four critical tax reform bills that could significantly transform Nigeria’s fiscal landscape.
The National Assembly delivered the bills to the President on Tuesday, marking a key step in the government’s ambitious overhaul of the country’s tax system.
The bills include the Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.
Finance Minister and Coordinating Minister of the Economy, Wale Edun, revealed this development at the 50th birthday lecture of Mr Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, in Abuja on Wednesday.
“It was, I think, yesterday that it was finally delivered to Mr. President by the National Assembly for him to sign off on the four tax reform bills,” the minister said.
Edun described the delivery of the bills as a significant milestone for the Tinubu administration.
He emphasised that once signed into law, these reforms are poised to enhance the efficiency and fairness of Nigeria’s tax system and nearly double the country’s low tax-to-GDP ratio, which is one of the lowest globally.
