“I Have Just Signed Into Law, The Four Fiscal Reforms Bills. It Is A NEW DAWN For Nigeria!”— President Bola Ahmed Tinubu announced in a statement on X

The four fiscal reform bills signed by President Tinubu aim to simplify Nigeria’s tax system.

The Nigeria Tax Bill combines tax laws, cuts income tax for low earners (0% on first N800,000), and frees small businesses (under N25m turnover) from profit tax. VAT rises to 15% by 2030, but essentials like food are exempt.

 The Nigeria Tax Administration Bill ensures uniform tax collection. The Nigeria Revenue Service Bill creates a new tax agency for efficiency.