ABUJA – The new tax bills signed into law by President Bola Ahmed Tinubu have been described as a bold step toward achieving Nigeria’s economic independence.
The new laws are designed to improve tax administration and increase government revenue.
Reacting on Thursday, Rep. Ifeanyi Onuigbo, a member of the North East Development Commission (NEDC) Governing Board, praised President Tinubu and the National Assembly for what he called a major achievement.
The bills signed into law include the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill. They were passed after wide-ranging consultations.
“With the President’s assent to these bills, the journey to economic prosperity under the Renewed Hope Agenda has truly begun,” Onuigbo said.
He also praised the National Assembly’s efforts, calling it the most comprehensive attempt ever to reform Nigeria’s tax system.
“This is a bold step to address taxation and revenue generation,” he added.
Onuigbo linked the tax reforms to efforts to give local governments more financial independence, which he said is important for national stability.
“President Tinubu has scored another bull’s eye in laying a foundation for Nigeria’s economic prosperity,” he said.
He encouraged Nigerians to support Tinubu’s reforms, pointing to the President’s background in finance.
“Nigerians can now see that President Tinubu knows how to fix the economic challenges,” he added.
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