Nigerian business mogul Femi Otedola has commended President Bola Tinubu for signing the tax reform bills into law.
In a statement posted on his X page on Friday, he described the move as a significant step towards creating a more transparent, efficient, and investment-friendly economy.
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Mr Otedola welcomed the reforms, noting that they would simplify Nigeria’s tax system, promote fairness, and restore public confidence in revenue collection and utilisation.
“These reforms will reduce complexity, promote fairness, and restore confidence in how revenues are collected and used.
“It’s not just about paying taxes; it’s about building a system where taxes and other public resources fund infrastructure, unlock productivity, and fuel inclusive growth,” Mr Otedola said.
He emphasised that the new tax framework would help strengthen the private sector and drive Nigeria towards sustainable prosperity.
“I am inspired to invest more, and many other investors share the same sentiment,” he added, applauding all stakeholders who contributed to what he called a landmark achievement for the nation.
Mr Otedola’s endorsement aligns with growing support from business leaders who view the tax reforms as a critical part of Mr Tinubu’s broader economic transformation agenda.
Mr Tinubu on Thursday signed into law the four tax reform bills recently passed by the National Assembly.
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The signing took place at the Presidential Villa and was attended by the leadership of the National Assembly and some legislators, governors, ministers, and the President’s aides.
The four bills– the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill– were passed by the National Assembly after extensive consultations with various interest groups and stakeholders.
