...These tax reforms present a once-in-a-generation opportunity to establish a fair, competitive and resilient fiscal framework for Nigeria,” the President said.
ABUJA, NIGERIA- The iNews Times | President Bola Tinubu has reaffirmed that the newly enacted tax laws will be implemented according to schedule, insisting that there is no justification for suspending the reform process.
The President said the tax laws that took effect on June 26, 2025, as well as those slated to commence on January 1, 2026, would proceed as planned, despite renewed calls by the Peoples Democratic Party (PDP) for a suspension of the commencement date.
The PDP had raised concerns over alleged discrepancies between the harmonised version of the Tax Act passed by the National Assembly and the version later gazetted, arguing that the differences have generated widespread public concern.
Responding in a statement, Tinubu said the issues raised had been carefully noted but stressed that no substantial flaw had been identified to warrant halting the reforms.
“The new tax laws will continue as planned. These reforms present a once-in-a-generation opportunity to establish a fair, competitive and resilient fiscal framework for Nigeria,” the President said.
He explained that the reforms are not aimed at increasing taxes but at restructuring the tax system, promoting harmonisation, protecting citizens’ dignity and strengthening the social contract.
Tinubu urged stakeholders to support the implementation phase, describing it as firmly in the delivery stage, while assuring Nigerians of his administration’s commitment to due process and the integrity of enacted laws.
He added that the Presidency would continue to work with the National Assembly to promptly address any issues identified, insisting that trust is built through sound decision-making rather than reactive measures.
However, the PDP, in a statement by its National Publicity Secretary, Ini Ememobong, accused the Federal Government of downplaying serious concerns surrounding alleged insertions of provisions earlier removed by lawmakers.
The opposition party said Nigerians from all walks of life had demanded accountability, calling for a thorough investigation into how the alleged insertions were made and who was responsible.
According to the PDP, the government’s insistence on maintaining the commencement date despite unresolved discrepancies reflected misplaced priorities, placing revenue considerations above citizens’ welfare.
The party further accused the Tinubu administration of consistently prioritising financial interests over the well-being of Nigerians, citing the removal of fuel subsidy in 2023 as an example.
The PDP argued that even suspicion of unauthorised alterations in a law with nationwide impact is sufficient reason to suspend its implementation, urging the President to act in the interest of the people.
Meanwhile, the Nigeria Employers’ Consultative Association (NECA) has endorsed the January 1 commencement date, warning that any delay in implementing the tax reforms would be detrimental to the country.
Speaking during an interactive session with journalists, NECA’s Director-General, Adewale-Smatt Oyerinde, said the reforms should move forward, noting that amendments could still be made where necessary.
He acknowledged the existence of disparities in the gazetted law but insisted that they were not serious enough to derail the entire reform process.
Oyerinde stressed that no tax reform is perfect, adding that the law already provides room for amendments as implementation progresses.
He highlighted the potential economic benefits of the reforms and urged sustained stakeholder engagement to ensure effective execution.
While commending the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, for extensive public engagement, Oyerinde said the organised private sector would continue to hold the process accountable in the national interest.
He expressed optimism that businesses and Nigerians would begin to feel the positive impact of the reforms in the new year, while calling on the government to maintain a stable and business-friendly environment.
On foreign exchange, Oyerinde noted that although the naira has remained relatively stable, macroeconomic gains have yet to significantly improve living conditions at the microeconomic level, expressing hope that 2026 would mark the point where those gains begin to reach ordinary Nigerians.
