Breaking: Tinubu Finally Signs Four Tax Reform Bills

• President Bola Tinubu has finally signed the long-debated Tax reform Bills into law on Thursday, June 26
• The president signed the bill at an event at the presidential villa, and Senate President Godswill Akpabio and Speaker of the House of Representatives, Tajudeen Abbas, were in attendance
• Some governors, including Abdulrasaq Abdulrahman of Kwara and his counterpart in Imo, Hope Uzodimma, were in attendance

President Bola Tinubu has finally signed the most talked-about tax reform bills into law. The activities were held at the presidential villa on Thursday, June 26.

The four bills, which have now been signed into law, are the Nigeria tax bill, the Nigeria tax administration bill, the Nigeria revenue service (establishment) bill, and the joint revenue board (establishment) bill.

Why Tinubu sent tax reform bills to NASS

In October 2024, President Tinubu transmitted the bill to the national assembly and urged them to pass the tax reform bills. The bills, at their initial stage, faced major opposition, particularly from the northern governors.

Senate President Godswill Akpabio and Speaker of the House of Representatives Tajudeen Abbas were witnesses to the signing of the bill. Also present at the ceremony were the chairman of the Nigeria Governors' Forum and the Governor of Kwara State, Abdulrazaq Abdulrahman.

Also in attendance was the chairman of the Progressive Governors Forum and Imo State Governor, Hope Uzodimma, as well as the Minister of Finance, Wale Edun. This came after several controversies about the tax reform bills.

The bills aim to improve the quality of life for all Nigerians, particularly the disadvantaged, rather than destroy the economy of any region. The presidency emphasised that the tax reform bills are designed to be transformative and will not favour one section of the country over another.

Presidency defends tax reform bills

Bayo Onanuga, the spokesperson to the president, noted that many reactions to the bills are not grounded in facts or reality, with some commentators attempting to incite people against lawmakers or polarise different regions against each other.

In recent weeks, the tax reform bills have been the subject of public debate, with various political actors and commentators sharing their opinions. However, the Presidency maintains that the bills will not negatively impact any section of the country. Instead, they aim to enhance the quality of life for all Nigerians, especially those disadvantaged.

The tax reform bills have been controversial, with some governors and stakeholders expressing concerns that they are unfair to all regions. However, the Presidency is adamant that the bills are designed to benefit all Nigerians, regardless of their region or background.

Tax Reform Bills divide Tinubu, 36 governors

Legit.ng earlier reported that President Bola Tinubu's tax reform bills before the National Assembly have reportedly divided the 36 governors in Nigeria.

The governors under the aegis of the Nigerian Governors Forum could not reach a resolution at the end of their meetings on Wednesday, December 11.

The northern governors have earlier voiced their opposition against the bills and asked lawmakers representing their states at the National Assembly to reject the proposal.

Source: Legit.ng