Femi Otedola Praises Nigeria’s New Tax Reform Laws, Says He’s Inspired to Invest More

Nigerian billionaire and Chairman of First HoldCo, Femi Otedola, has expressed strong support for the newly enacted tax reform laws, describing them as a transformative milestone for Nigeria’s economic landscape. The prominent businessman said he feels motivated to increase his investments in the country following the legislation’s passage.

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President Bola Ahmed Tinubu officially signed the four-part tax reform bills into law on Thursday, May 26, 2025. Set to take effect from January 1, 2026, the tax reforms are aimed at simplifying Nigeria’s complex tax structure, promoting fairness, and fostering inclusive economic growth.

Otedola shared his thoughts via a statement posted on social media platform 𝕏 on Friday, affirming his optimism about the direction of Nigeria’s economy under the new tax system.

“As a business leader, I welcome the signing of the tax reform bills into law by His Excellency, President Bola Ahmed Tinubu, GCFR,” Otedola wrote.

“The new Tax Reform Laws are a bold, necessary step toward a more transparent, efficient, and investment-friendly economy.”

He added that these legislative changes would significantly reduce complexity in the tax system and rebuild confidence in government revenue management.

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Otedola emphasized that the reforms are more than just regulatory adjustments—they represent a foundational shift in how Nigeria approaches economic development.

“It’s not just about paying taxes,” he explained. “It’s about building a system where taxes and other public resources fund infrastructure, unlock productivity, and fuel inclusive growth.”

He commended the architects of the reform for their efforts in shaping a more balanced and growth-oriented fiscal environment, highlighting the potential benefits for both the public and private sectors.

The billionaire industrialist also pointed out that he is not alone in his renewed confidence. According to him, many local and international investors are echoing the same sentiment of optimism and readiness to deepen their engagements in the Nigerian market.

“I am inspired to invest more, and many other investors share the same sentiment,” he said.

The tax reforms are widely viewed as part of President Tinubu’s broader economic agenda to modernize Nigeria’s fiscal infrastructure and enhance the ease of doing business in Africa’s largest economy.

As stakeholders across industries assess the implications of the reforms, Otedola’s public endorsement signals a positive outlook and may influence further private sector participation in national development initiatives.