Nigeria's president just put his signature on major tax changes that will shake up how the country collects money. Bola Tinubu approved four different tax laws that merge into one simple system. The new rules protect poor families and small businesses from paying more taxes. Government officials say the changes will help the economy grow without hurting regular people. Leaders worked hard to make tax rules easier to understand and follow.
The value-added tax stays at 7.5 percent but covers fewer things that families need every day. Food, medicine, schools, electricity, and rent will not have this tax added to their prices. States will receive more money from tax collections than before. The federal government takes less cash and gives...