Buhari signs new bill, first of it's kind since 1999| Read Details

President Muhammadu Buhari has signed the Finance Bill.

According to the president, the bill which was inked today was aimed to "Reform Nigeria’s tax laws to align with global best practices; 

-Support MSMEs in line with our Ease of Doing Business Reforms".

He added that it is the first time, since the return of democracy in 1999, that a Federal Budget is being accompanied by passage of a Finance Bill.

The statement released via the president Twitter handle reads:

"We introduced the Bill alongside the 2020 Budget, to: 

-Reform Nigeria’s tax laws to align with global best practices; 

-Support MSMEs in line with our Ease of Doing Business Reforms; 

-Incentivize investments in infrastructure and capital markets; 

-Raise Government revenues.

"This is the first time, since the return of democracy in 1999, that a Federal Budget is being accompanied by passage of a Finance Bill specially designed to support its implementation, and to create a truly enabling environment for business and investment by the private sector.

"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."