President Bola Ahmed Tinubu has signed four groundbreaking tax reform bills into law.

The bills, which he said will transform Nigeria’s fiscal and revenue framework, were signed at the Presidential Villa, Abuja, on Thursday afternoon.

The four bills are the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill, which were recently passed by the National Assembly.

Among those present at the signing ceremony were Senate President Godswill Akpabio, Speaker of the House of Representatives, Tajudeen Abbas; Senate Majority Leader, House Majority Leader, chairman of the Senate Committee on Finance, and his House of Representatives counterpart.

On Wednesday, Bayo Onanuga, Special Adviser to the President on Information and Strategy, said when the new tax laws become operational, they would significantly transform tax administration in the country, leading to increased revenue generation, improved business environment, and a boost in domestic and foreign investments.