The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has said the implementation of the Nigerian Tax Act and the Nigerian Tax Administration Act will commence on January 1, 2026, as scheduled.
Oyedele spoke on Friday in Lagos while briefing journalists after a meeting with President Bola Ahmed Tinubu, which 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.
He explained that the Federal Government would not shift the implementation date, noting that the reforms are meant to ease the tax burden on Nigerians and stimulate economic growth.
According to him, about 98 per cent of Nigerian workers will either pay no Pay As You Earn (PAYE) tax or pay reduced taxes, while 97 per cent of small businesses will be exempted from Corporate Income Tax, Value Added Tax (VAT) and Withholding Tax.
Oyedele added that large businesses will also benefit from reduced tax obligations, stressing that the reforms are designed to promote inclusiveness, economic expansion and shared prosperity.
The committee chairman welcomed the position of the National Assembly on concerns over alleged alterations in the tax laws, saying the Federal Government is open to working with lawmakers to address issues raised by Nigerians, including opposition voices.
The new tax laws have generated controversy following claims by a member of the House of Representatives, Abdussamad Dasuki, that the versions of the laws gazetted were different from those passed by lawmakers.
Dasuki had argued that the legislative process may have been compromised, stating that lawmakers do not have access to the harmonised bills certified by the National Assembly for proper comparison.
President Tinubu recently signed four tax reform bills into law, marking what the Federal Government described as the most comprehensive overhaul of Nigeria’s tax system in several decades.
The laws, which faced strong opposition from some northern lawmakers before their passage, are scheduled to take effect on January 1, 2026.
They include the Nigeria Tax Act, the Nigeria Tax Administration Act, the Nigeria Revenue Service (Establishment) Act and the Joint Revenue Board (Establishment) Act, all to operate under a unified authority known as the Nigeria Revenue Service.
