- President Buhari has signed the Finance Bill into law
- The president explained that the new law will reform Nigeria’s tax laws to align with global best practices and support the ease of doing business
- The new law, according to Buhari, will also incentivize investments in infrastructure and capital markets and raise government revenues
President Muhammadu Buhari has on Monday, January 13, signed the Finance Bill into law.
Recall that the president had in 2019 sent the bill alongside the 2020 budget to the National Assembly for consideration.
According to the thread of tweets posted by President Buhari, the newly signed law was put in place to reform Nigeria’s tax laws to align with global best practices and support MSMEs in line with the government's Ease of Doing Business reforms.
The law will also incentivize investments in infrastructure and capital markets and raise government revenues.
President Buhari noted that his administration is the first since 1999 to accompany the budget with a Finance Bill which is specially designed to support its implementation.
He stressed that the bill will create a truly enabling environment for business and investment by the private sector.
"I thank the leadership and members of the Ninth National Assembly for the hard work and support that have gone into the passage of the landmark Deep Offshore and Inland Basin PSC Amendment Bill, and the Finance Bill; both vital to the successful implementation of the 2020 Budget," he said.
Meanwhile Legit.ng previously reported that President Buhari on Friday, January 10, called on Nigerian youths to get themselves ready to take on the mantle of leadership of the country.
Speaking to All Progressives Congress (APC) youth leaders from all regions of the country who paid him a visit at the Presidential Villa, Abuja, President Buhari said that the fact that youths will eventually rule Nigeria is inevitable even to the present generation of leaders.
The president said that this is an enormous responsibility which the youths must be very prepared for.
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