The Federal Government has affirmed that there will be no reversal in the planned implementation of Nigeria’s new tax reform laws scheduled to take effect on January 1, 2026.
Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele,made this position known on Friday after a meeting with President Bola Tinubu in Lagos to brief him on the progress of the reforms.
Oyedele said four tax-related laws were signed into law as part of the reform programme, noting that two, the Nigeria Revenue Service (Establishment) Act and the Joint Revenue Board of Nigeria (Establishment) Act have already commenced since June 26, 2025.
According to him, the remaining two laws, the Nigeria Tax Act and the Nigeria Tax Administration Act will take effect as scheduled on January 1, 2026, despite ongoing reviews by the National Assembly over concerns surrounding the gazetting of the Acts.
He welcomed the decision of the House of Representatives to investigate the matter, stressing that the Federal Government is ready to work with the National Assembly if any action becomes necessary, but maintained that the reform timeline remains unchanged.
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Oyedele explained that the reforms are aimed at providing relief to Nigerians and stimulating economic growth rather than generating immediate revenue.
He said about 98 per cent of workers would either pay no personal income tax or pay less, while 97 per cent of small businesses would be exempted from corporate income tax and VAT withholding tax.
He added that large businesses would also benefit from lower effective tax rates, noting that the reforms are designed to promote inclusivity, shared prosperity and improved tax compliance.
The committee chairman said preparations for the reforms began in October 2024 when the bills were first submitted to the National Assembly and have continued through capacity building, system upgrades and stakeholder sensitisation since the laws were signed in June 2025.
The National Assembly had earlier on Friday directed the re-gazetting of the tax laws to ensure clarity and accuracy of legislative records.
The legislature said the exercise is purely administrative and does not affect the validity or authority of the Acts passed by both chambers.
(Editor: Roluke Ogundele)
