President Bola Tinubu has signed into law four landmark tax reform bills aimed at overhauling Nigeria’s fragmented tax structure, promising relief for low-income earners and small businesses.

The signing took place on Thursday at the Presidential Villa, Abuja, and was witnessed by top government officials including Senate President Godswill Akpabio, House of Representatives Speaker Tajudeen Abbas, and Finance Minister Wale Edun.

The newly enacted laws include the Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.

“These bills deliver the first major, pro-people tax cuts in a generation,” Tinubu declared. “They offer targeted relief to low-income earners, small businesses, and struggling families.”

Tinubu had initially forwarded the bills to the National Assembly on October 3, 2024. Despite early opposition from northern governors concerned about regional equity, the Nigeria Governors’ Forum later endorsed the bills in January after a revised VAT-sharing formula was agreed upon.

The House of Representatives passed the bills in March, with the Senate following in May. They were transmitted to the president for assent on June 18.

Tinubu noted that the reforms mark the end of a burdensome and inequitable tax regime. “Our old system was complex and unfair it stifled the vulnerable while enabling inefficiency. That era ends today,” he said.

He added that the new framework will streamline tax administration, eliminate duplication, reduce bureaucracy, and foster greater transparency and investor confidence nationwide.