– President signs bill into law
President Muhammadu Buhari on Monday, January 13 signed the Finance Bill into law, saying it would reform Nigeria’s tax laws to align with global best practices and support the ease of doing business.
Buhari said the new law would also incentivize investments in infrastructure and capital markets and raise government revenues.
The president through a thread of tweets said the new bill was also aimed at reforming Nigeria’s tax laws to align with global best practices and support MSMEs in line with his government’s Ease of Doing Business reforms.
He noted that his administration was the first since 1999 to accompany the budget with a Finance Bill, which is specially designed to support its implementation.
“I thank the leadership and members of the Ninth National Assembly for the hard work and support that have gone into the passage of the landmark Deep Offshore and Inland Basin PSC Amendment Bill, and the Finance Bill; both vital to the successful implementation of the 2020 Budget,” he said.
The Finance Bill was part of the 2020 budget envelop sent by the president in 2019 to the National Assembly for consideration.
