President Bola Tinubu has signed into law the four new tax bills recently passed by the National Assembly.
Among others, the tax reform bills (now laws) included renaming the Federal Inland Revenue Service (FIRS) as Nigeria Revenue Service (NRS).
At the event in Abuja, the President described the sweeping new legislations as pivotal to the success of the administration’s reforms and the country’s prosperity.
READ MORE HERE about the Tax Reform Bills provisions.
The Nigeria Employers Consultative Association (NECA) expressed support for the new tax legislations.
However, at the signing ceremony held in his office at the State House, Tinubu said the occasion presented a new lease of life to every Nigerian and future generations.
“What we did a few minutes ago is the way forward for our country’s prosperity. Leadership must help people take off, lead the way, and navigate every turn and twist. We must help them reach their destination. That is what we are doing.
“We are in transit; we have changed the roads, we have changed some of the misgivings, we have opened the doors to a new economy, business opportunities. We have shown the world that Nigeria is ready and open for business,” the President stated.
Mr. Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, extolled the President’s leadership in enabling the passage of the four bills.
He thanked the President for all the support, without necessarily teleguiding the committee, and only asked necessary questions.
“History will remember you for good for transforming our country because you went for a fundamental reform,” he added.
