- Safiu Kehinde
Popular Nigerian businessman, Femi Otedola, has hailed President Bola Tinubu’s signing of the tax reform bills into laws.
NPO Reported that the President had yesterday approved the bills at the Presidential Villa, Abuja, following its passage by the National Assembly.
The bills designed by Taiwo Oyedele-led Presidential Committee on Fiscal Policy and Tax Reforms, had sparked controversies when introduced.
It was initially opposed by mostly northern leaders who considered the bills to be more favourable to Southern Nigeria.
However, after months of deliberations and consultations, the bills were passed by the National Assembly and yesterday approved by Tinubu.
Welcoming the development in a post on his X handle on Friday, Otedola held that the laws are bold, necessary step toward a more transparent, efficient, and investment-friendly economy.
The tax reform laws, according to him, will reduce complexity, promote fairness, and restore confidence in how revenues are collected and used.
“As a business leader, I welcome the signing of the tax reform bills into law by His Excellency, President Bola Ahmed Tinubu, GCFR.
“The new Tax Reform Laws are a bold, necessary step toward a more transparent, efficient, and investment-friendly economy.
“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.
“This is how we build a stronger private sector and a more prosperous Nigeria. Kudos to everyone who contributed to this landmark achievement for Nigeria.” Otedola wrote.