FG says new tax laws will ease burden on workers, exempt most small businesses, amid controversy over gazetted versions
The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has declared that the implementation of Nigeria’s newly signed tax reform laws will commence as scheduled on January 1, 2026, stressing that the date will not be shifted.
Oyedele made this known on Friday in Lagos while briefing journalists after a closed-door meeting with President Bola Tinubu. The meeting was also attended by the Chairman of the Federal Inland Revenue Service (FIRS), Zacchaeus Adedeji, and the Chairman of the National Tax Policy Implementation Committee, Joseph Tegbe.
According to Oyedele, the reforms are deliberately structured to reduce the tax burden on the majority of Nigerians and stimulate economic growth.
He explained that under the new tax regime, about 98 per cent of Nigerian workers will either pay no Pay As You Earn (PAYE) tax or significantly reduced taxes, while 97 per cent of small businesses will be fully exempt from Corporate Income Tax, Value Added Tax (VAT), and Withholding Tax.
Oyedele added that even large companies are expected to benefit from a reduction in the overall taxes they currently pay.
“The essence of these reforms is to promote economic growth, inclusivity and shared prosperity for Nigerians,” he said, insisting that the January 2026 commencement date remains intact.
Allegations of Alteration Spark Lawmakers’ Concerns
The tax reform laws have, however, continued to generate controversy following claims by a member of the House of Representatives, Abdussamad Dasuki, that there may be discrepancies between the versions of the tax bills passed by the National Assembly and those later gazetted and released to the public.
Dasuki argued that lawmakers had been denied access to the officially harmonised versions of the bills transmitted to the President for assent, raising concerns over possible alterations.
He maintained that only the harmonised copies certified by the Clerk of the National Assembly can authoritatively confirm what lawmakers approved, adding that even legislators currently do not have those documents for comparison.
FG, National Assembly Pledge Collaboration
Responding to the controversy, Oyedele welcomed the intervention of the National Assembly and said the Federal Government remains open to working with lawmakers and other stakeholders to address concerns raised by Nigerians, including opposition figures.
President Tinubu recently signed four major tax reform bills into law, describing them as the most comprehensive overhaul of Nigeria’s tax system in decades.
The laws include:
- The Nigeria Tax Act
- The Nigeria Tax Administration Act
- The Nigeria Revenue Service (Establishment) Act
- The Joint Revenue Board (Establishment) Act
Under the new framework, all tax administration and revenue collection will operate under a single authority, the Nigeria Revenue Service. The laws are scheduled to take effect nationwide on January 1, 2026, despite earlier opposition from some federal lawmakers, particularly from the northern region.
About the Author
