President says reforms will ease burden on poor, low-income earners and small businesses..
President Bola Tinubu has sought to calm public concerns over Nigeria’s new tax regime scheduled to begin in 2026, assuring citizens that the policy is designed to ease financial pressure on the poor, low-income earners and small businesses.
The President gave the assurance on Tuesday during the 8th Annual Senator Abiola Ajimobi Roundtable and the 76th posthumous birthday lecture in honour of the late former Governor of Oyo State, held at the University of Ibadan.
The event, themed “Pathways to Electoral Credibility: Reforming Political Parties, Re-engineering Citizens, and Restoring Trust in Nigerian Democracy,” was organised by the Senator Abiola Ajimobi Foundation in collaboration with the Institute of Peace and Strategic Studies, University of Ibadan. It drew family members, political associates, friends and partners of the late governor and was chaired by former Ogun State Governor, Olusegun Osoba.
President Tinubu’s message was delivered by the Executive Chairman of the Federal Inland Revenue Service (FIRS), Zaccheus Adedeji, who praised Ajimobi’s leadership style and reform-driven governance while in office.
According to the President, the economic reforms introduced by his administration, though difficult at the onset, were necessary to stabilise and reposition the economy for sustainable growth.
“We shared many ideals. He believed that leadership sometimes requires tough decisions that may cause initial discomfort but ultimately drive long-term development,” Tinubu said in reference to the late Ajimobi.
He noted that early signs indicated the reforms were yielding positive results, citing improvements in key economic indicators.
“Our GDP is growing, inflation is on the decline, and progress is being recorded in fiscal deficit management. Companies that were once operating at a loss have returned to profitability, while capacity utilisation and investment levels are improving,” the President stated.
Tinubu said Nigerians would experience the benefits of the reforms more clearly in the coming year, particularly through the implementation of new tax laws.
He explained that the laws would exempt essential items and services such as food, medication, education, agriculture and shared transportation from heavy taxation, while also addressing the challenge of multiple taxation faced by businesses.
“I want to assure Nigerians that there should be no fear regarding the new tax laws, which will take effect next year. They come with good news for the poor, low-income earners and small businesses,” he added.
The President also commended the wife of the late governor, Ambassador-designate Florence Ajimobi, for sustaining her husband’s legacy through the foundation’s work.
In a political aside, Tinubu urged leaders and members of the All Progressives Congress (APC) in Oyo State to close ranks and work together ahead of the 2027 general elections.
“The greatest honour we can give our departed statesman is to unite and strengthen the party to reclaim the reins of government in this state in 2027,” he said.
Oyo State Governor Seyi Makinde, represented by his deputy Bayo Lawal, described the roundtable as a meaningful platform for reflecting on Ajimobi’s contributions while addressing pressing issues facing Nigeria’s democracy.
Makinde said the late governor’s legacy cut across party lines and underscored the importance of accountability, sincerity and inclusive governance in rebuilding public trust.
Delivering the keynote lecture, former Chief of Staff to ex-President Muhammadu Buhari, Ibrahim Gambari, identified political party reform as central to restoring democratic credibility in Nigeria.
He highlighted challenges such as voter apathy, weak internal party democracy, electoral violence, insecurity and institutional weaknesses as major threats to credible elections.
Earlier, Florence Ajimobi, President of the Senator Abiola Ajimobi Foundation, thanked President Tinubu for his continued support and loyalty to the late governor, describing his consistent presence at the annual event as a reflection of shared democratic values.
Dignitaries at the event included the Speaker of the House of Representatives, Tajudeen Abbas, who served as Special Guest of Honour, Imo State Governor Hope Uzodimma, traditional rulers, community leaders and students.
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