In a firm declaration, the federal government has reiterated that the planned rollout of President Bola Tinubu’s new tax reform laws will commence on January 1, 2026, dismissing recent calls for postponement amid growing public controversy.
During a press briefing following a meeting with President Tinubu, Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, emphasized that there will be no delays in implementing the tax changes. “We’re excited about the progress we’re making and are looking forward to January 1, 2026,” he stated.
The National Assembly has responded to concerns regarding the transparency and legislative processes surrounding these reforms. They have directed the Clerk to re-gazette the Tax Acts and issue Certified True Copies of the versions passed by both chambers, ensuring clarity in the new regulations.
However, the National Association of Seadogs (NAS), also known as Pyrates Confraternity, expressed serious reservations about the ongoing reforms. They warned that questions regarding transparency and legality could overshadow the intended benefits of the tax reforms.
Oyedele outlined that the overarching aim of these reforms is to foster economic growth, inclusivity, and shared prosperity. “This kind of reform is a work in progress,” he remarked, noting that preparation began as soon as the tax bills were transmitted to the National Assembly in October 2024.
He clarified that the six months following presidential assent were dedicated to capacity building and system upgrades, laying the groundwork for successful implementation. Two of the four landmark tax reform laws—namely the Nigerian Revenue Service (Establishment) Act and the Joint Revenue Service (Establishment) Act—are already in effect, having commenced on June 26, 2025.
The remaining two laws, the Nigerian Tax Act and the Nigerian Tax Administration Act, are scheduled to take effect in January. Oyedele highlighted that the staggered implementation allows institutions created by the reforms to prepare adequately.
Importantly, he addressed concerns about immediate revenue generation, asserting that the primary goal is sustainable growth rather than quick financial returns. “Over time, you get revenue from growth,” he explained, emphasizing the importance of widening the tax base and improving compliance.
The new tax regime is designed to significantly benefit ordinary Nigerians, with the bottom 98% of workers facing either reduced or zero PAYE tax obligations. Furthermore, 97% of small businesses will be exempt from various tax obligations, while large corporations will experience a decrease in their tax burdens.
Oyedele concluded by reaffirming the government’s commitment to the reforms, stating, “These reforms are designed to provide relief to the Nigerian people.”
As the clock ticks down to January 1, 2026, the nation watches closely to see how these sweeping changes will unfold and impact the economic landscape of Nigeria.
