President Bola Tinubu has signed into law four controversial tax reform bills, despite strong opposition from some northern governors and stakeholders who fear the reforms may disadvantage the region.
The new laws, the Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and Joint Revenue Board (Establishment) Bill were passed by the National Assembly and forwarded to the president for assent.
The signing ceremony took place Thursday at the Presidential Villa in Abuja, with top government officials in attendance, including Senate President Godswill Akpabio, House Speaker Tajudeen Abbas, governors, ministers, and presidential aides.
In a statement released by the Presidency, the Tinubu administration said the new tax laws will “significantly transform tax administration in Nigeria.
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The administration said that the reforms are designed to increase revenue generation, improve the ease of doing business, and attract domestic and foreign investments.
“These tax reforms are a critical part of President Tinubu’s broader fiscal agenda to strengthen the economy and create a more transparent and efficient tax system,” the statement read.
However, the bills had earlier stirred political tensions, particularly in the northern states, where several governors and interest groups raised concerns that the reforms could undermine regional economic interests and widen existing fiscal imbalances.
Despite the resistance, the Presidency insists the reforms are nationally beneficial and were developed with inputs from a wide range of stakeholders, including the private sector, tax experts, and civil society organizations.