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BREAKING! President Buhari signs the Finance Bill into law

The Finance Bill was introduced alongside the 2020 Budget to reform Nigeria’s tax laws to align with global best practices.


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President Muhammadu Buhari

President Muhammadu Buhari on Monday signed the Finance Bill into law. He also signed the Inland Basin PSC Amendment Bill.

The Finance Bill was introduced 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 and Raise Government revenues, according to President Buhari in a tweet after signing the bill on Monday.

Also, read People blaming the government for borrowing are not being sincere – Olowu

“This is the first time, since the return of democracy in 1999, that a Federal Budget is being accompanied by the 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,” he said.

He added: “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.”

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