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International Business Times
International Business Times
Business

Nigeria's Tinubu Signs Major Tax Overhaul

Economic reform has been a key, if controversial, pillar of Nigerian President Bola Tinubu's tenure (Credit: AFP)

Nigerian President Bola Tinubu on Thursday signed four landmark bills into law aiming to overhaul the country's tax system, after backing away from more controversial tweaks that would have upended revenue sharing among states.

The west African economic powerhouse has a tax-to-GDP ratio of 13.5 percent, according to government figures, which is below the continental average.

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