Business mogul Femi Otedola has praised the federal government’s recent passage of four tax reform laws, describing them as a “bold” and “necessary” step toward rebuilding investor confidence and stimulating inclusive economic growth.

President Bola Tinubu signed the legislation earlier this month, with the new provisions set to take effect from January 1, 2026.

Reacting in a post on X on Friday, the chairman of First HoldCo said the reforms have restored his confidence in Nigeria’s fiscal direction.

“The new tax reform laws are a bold, necessary step toward a more transparent, efficient, and investment-friendly economy,” Otedola stated.

He added that the changes would not only simplify tax procedures but also promote fairness and ensure public funds are channelled toward infrastructure and productivity.

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

Otedola, who also chairs Geregu Power Plc, said the reforms have inspired him to expand his investment footprint in the country, noting that “many other investors share the same sentiment.”

He commended all stakeholders involved in the passage of the legislation, calling it “a landmark achievement for Nigeria.”