The Federal Government has dismissed demands to suspend the rollout of new tax laws set to take effect on January 1, 2026.
Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, stated this while briefing journalists following the visit of the National Tax Policy Implementation Committee (NTPIC), chaired by Joseph Tegbe, to President Bola Tinubu in Lagos.
Oyedele assured that the new tax reforms are designed to ease the burden on Nigerians and stimulate economic growth.
He explained, “The plan to implement the remaining two new laws on January 1, 2026, will proceed as scheduled because these reforms are meant to provide relief to the Nigerian people. About 98% of workers will either pay no PAYE tax or lower amounts; 97% of small businesses will be exempt from corporate income tax, VAT, and withholding tax, while large businesses will see a reduction in their tax obligations.
“The goal is to promote economic growth, inclusivity, and shared prosperity. We are encouraged by the progress so far and look forward to the January 1 rollout.”
Oyedele noted that the tax reform bills spent nine months in the National Assembly between October 2024 and June 2025, allowing ample time for preparations. Since their enactment, the government has spent six months on capacity building, system upgrades, and stakeholder engagement. The early commencement of two of the laws is intended to give new institutions time to start operations and prepare for the full 2026 rollout.
Earlier this month, Rep. Abdulsammad Dasuki (PDP, Sokoto) raised concerns over discrepancies between the gazetted tax reform laws and the versions passed by the National Assembly. He claimed that the official copies differed materially from those debated and approved by both chambers, sparking calls to halt implementation over fears it could undermine legislative transparency and credibility.
In response, the House of Representatives announced that a committee has been set up to investigate the circumstances surrounding the legislative and administrative handling of the Acts.
The FG’s decision to move ahead has sparked debate: will the promised relief reach workers and small businesses, or are the lawmakers’ concerns justified?
