President Bola Tinubu has confirmed that Nigeria’s new tax laws will take effect on January 1, 2026, as scheduled. He said the Federal Government sees no reason to delay the rollout.
In a statement he personally signed on Tuesday, Tinubu described the reforms as a rare chance to reset Nigeria’s fiscal system and secure long-term stability.
Reforms Not Meant to Raise Taxes
The President said the new tax laws do not aim to increase taxes on Nigerians. Instead, he explained that the reforms seek to harmonise existing laws and improve efficiency.
Moreover, Tinubu said the framework protects vulnerable groups and promotes fairness. He added that the reforms address long-standing structural weaknesses in the tax system.
Stakeholders Urged to Support Rollout
Tinubu called on stakeholders to support the implementation process, which he said has entered the delivery stage. He stressed that trust in governance grows through consistent and thoughtful decisions.
Furthermore, he warned against abrupt reversals driven by pressure. According to him, such actions weaken public confidence.
Committee Confirms Readiness
Meanwhile, Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, confirmed that implementation remains on track. He said the final phase covers the Nigeria Tax Act and the Nigeria Tax Administration Act.
Oyedele explained that the laws shift the tax burden away from low-income earners and small businesses.
Impact on Workers and Small Businesses
In conclusion, the Federal Government projects that about 98 percent of workers and 97 percent of small businesses will either pay no tax or see major reductions. Officials say the reforms will promote shared responsibility and economic growth.
