The Federal Executive Council has approved the Economic Stabilization Bills (ESB).

These bills, driven by recommendations from the Presidential Fiscal Policy and Tax Reforms Committee, chaired by Taiwo Oyedele, mark a critical step in the government’s Accelerated Stability and Advancement Plan.

Oyedele on his X handle said the ESB aims to amend over 15 tax, fiscal, and establishment laws, paving the way for enhanced economic stability.

The proposed amendments are expected to reduce inflation, strengthen the naira, and boost job creation while promoting fiscal discipline and poverty alleviation.

He noted that these efforts are in a bid to stabilize Nigeria’s economy and lay the groundwork for long-term inclusive growth.

These reforms, according to him, are set to shape the future of Nigeria’s fiscal landscape.

With these groundbreaking reforms approved by the FEC, the Economic Stabilization Bills are set to be transmitted to the National Assembly for passage into law.

If enacted, these changes will play a pivotal role in stabilizing Nigeria’s economy and fostering long-term sustainable growth.