The passage of four tax reform bills into law by President Bola Tinubu has sparked optimism among investors, with billionaire businessman Femi Otedola expressing his intention to invest more in the Nigerian economy.
The new laws aim to transform tax administration, increase revenue generation, and improve the business environment.
Otedola’s sentiments are echoed by other stakeholders, who see the tax reforms as a positive step toward improving Nigeria’s business environment.
“I am inspired to invest more, and many other investors share the same sentiment,” Otedola said on X.
The signed bills include the following:
According to Otedola, the tax reforms are a “bold, necessary step toward a more transparent, efficient, and investment-friendly economy.”
He believes that the reforms will reduce complexity and promote fairness in tax collection; restore confidence in the use of public resources; fund infrastructure and unlock productivity; and fuel inclusive growth.