{"id":120169,"date":"2025-06-27T18:19:28","date_gmt":"2025-06-27T17:19:28","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=120169"},"modified":"2025-06-27T18:19:28","modified_gmt":"2025-06-27T17:19:28","slug":"mixed-reactions-as-president-signs-tax-bills","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/mixed-reactions-as-president-signs-tax-bills\/","title":{"rendered":"Mixed Reactions as President Signs Tax Bills"},"content":{"rendered":"<div>By Lizzy Chirkpi<\/div>\n<div><\/div>\n<div><\/div>\n<div>Nigerians have expressed mixed reactions on social media after President Bola Tinubu signed the Tax Reform Bills into law, marking a major shift in the nation&#8217;s tax system.<\/div>\n<div><\/div>\n<div>While signing the bills, President Tinubu emphasized that they signal Nigeria\u2019s readiness for modern economic growth and international investment.<\/div>\n<div><\/div>\n<div>\u201cWe have opened the door for new economic and business opportunities. We are showing that Nigeria is truly ready and open for business. Easy in, easy out,\u201d said Tinubu at the signing ceremony held at the State House in Abuja.<\/div>\n<div><\/div>\n<div>The four bills include the Nigeria Tax Bill (Fair Taxation), Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.<\/div>\n<div><\/div>\n<div>The President stated, \u201cThey will unify our fragmented tax system, eliminate wasteful duplications, cut red tape, restore investor confidence, and entrench transparency and coordination at every level.\u201d<\/div>\n<div><\/div>\n<div>Some Nigerians hold different opinions regarding this new law and its direct impact on them. Here are some reactions on X (formerly Twitter) as extracted by Pointblanknews.news concerning the law:<\/div>\n<div><\/div>\n<div>@TheCyber_sol: \u201cAnything tax, Tinubu is active. This man is not just a bad president; he\u2019s a thief and he is wicked. It\u2019s a lovely idea, but he\u2019s generating more money to steal. It\u2019s insane.\u201d<\/div>\n<div><\/div>\n<div>@digitalaom: \u201cVery confused set of people. As it stands, point 3 does not make sense in the context of Nigeria\u2019s current minimum wage of \u20a670,000 per month (\u20a6840,000 annually). The exemption threshold of \u20a6800,000 annually is too low to cover minimum wage earners, potentially subjecting them to income tax despite the reform\u2019s pro-poor intent.\u201d<\/div>\n<div><\/div>\n<div>@Collinszagaa: \u201cMinimum wage in Nigeria is \u20a670k. Number 3 said low-income earners of \u20a6800k annually will not be taxed. \u20a6800k\/12 = \u20a666,667. This means low-income earners will be taxed.\u00a0<img decoding=\"async\" class=\"an1\" draggable=\"false\" src=\"https:\/\/fonts.gstatic.com\/s\/e\/notoemoji\/16.0\/1f600\/32.png\" alt=\"\ud83d\ude00\" data-emoji=\"\ud83d\ude00\" aria-label=\"\ud83d\ude00\" \/><img decoding=\"async\" class=\"an1\" draggable=\"false\" src=\"https:\/\/fonts.gstatic.com\/s\/e\/notoemoji\/16.0\/1f600\/32.png\" alt=\"\ud83d\ude00\" data-emoji=\"\ud83d\ude00\" aria-label=\"\ud83d\ude00\" \/><img decoding=\"async\" class=\"an1\" draggable=\"false\" src=\"https:\/\/fonts.gstatic.com\/s\/e\/notoemoji\/16.0\/1f600\/32.png\" alt=\"\ud83d\ude00\" data-emoji=\"\ud83d\ude00\" aria-label=\"\ud83d\ude00\" \/>\u201d<\/div>\n<div>@Opemipo_162: \u201cHe already allowed for the corporate taxes to go up 30% and high earners to be 25%. What else do you all want? If it&#8217;s too low, you would complain; if it&#8217;s too high, you would still complain. Small businesses have been exempted, and low earners as well \u2013 isn&#8217;t that enough?\u201d<\/div>\n<div><\/div>\n<div>Thursday\u2019s signing comes nearly two years after President Tinubu appointed Mr. Taiwo Oyedele, a Fiscal Policy Partner and Africa Tax Leader at PriceWaterhouseCoopers, as committee chairman. Recall that on July 7, 2023, the President approved the establishment of a Presidential Committee on Fiscal Policy and Tax Reforms.<\/div>\n<div><\/div>\n<div>However, the bills faced resistance at the National Assembly and among some state governors, who initially rejected their passage.<\/div>\n<div><\/div>\n<div><\/div>\n<div>At the NASS, the bills sparked heated debate, particularly around the revenue-sharing structure. Meanwhile, Governors from the North mostly opopposed the bills, warning that a shift toward derivation-based allocations, especially with VAT, could tilt fiscal balance in favor of southern states with stronger consumption bases.<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>By Lizzy Chirkpi Nigerians have expressed mixed reactions on social media after President Bola Tinubu signed the Tax Reform Bills into law, marking a major shift in the nation&#8217;s tax&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":116934,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-120169","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - 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