The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has asserted that the 1st of January 2026 is a sacred date for the implementation of the Nigerian Tax Act and the Nigerian Tax Administration Act.
Oyedele made this statement on Friday in Lagos while addressing journalists following a meeting with President Bola Tinubu.
“The plan to implement the new laws on 1st January 2026 will proceed as scheduled, as these reforms are intended to provide relief to the Nigerian populace,” he stated after the meeting, which also included the Chairman of the Federal Inland Revenue Service (FIRS), Zacchaeus Adedeji, and the Chairman of the National Tax Policy Implementation Committee, Joseph Tegbe.
“The bottom 98 per cent of workers will either pay no Pay As You Earn (PAYE) tax or lower amounts, while 97 per cent of small businesses will be exempt from Corporate Income Tax, Value Added Tax (VAT), and Withholding Tax. Large enterprises will also see a reduction in their tax liabilities.
“The overall aim is to foster economic growth, inclusivity, and shared prosperity for our people,” he added.
Oyedele welcomed the National Assembly’s stance on the allegations of discrepancies. He noted that the Federal Government is prepared to collaborate with lawmakers to address the concerns raised by Nigerians, including those from opposition parties.
### Controversy Surrounds New Tax Laws
A member of the House of Representatives, Abdussamad Dasuki, has recently voiced concerns regarding what he perceives as discrepancies between the tax laws passed by the National Assembly and the versions subsequently gazetted and made available to the public.
Dasuki contended that his legislative rights had been violated, as the content of the gazetted tax laws did not accurately reflect what had been debated and approved in the House.
“Before one can assert a difference between what was gazetted and what was passed, we must clarify what has not yet been gazetted. We do not possess the version that was passed,” he stated.
“The officially harmonised bills certified by the clerk, which the National Assembly submitted to the President, are not available for comparison. Only the lawmakers can authoritatively confirm what we sent.
“It should be the version from the House of Representatives or the Senate—the harmonised version certified by the clerk. Even I cannot confirm that I possess it; I only have what was presented to the President for signature.”
President Tinubu has signed four tax reform bills into law, which the government describes as the most significant overhaul of the country’s tax system in decades.
These tax reform laws, which faced considerable opposition from federal lawmakers in the northern region prior to their passage, are set to take effect on 1st January 2026.
The laws include the Nigeria Tax Act, the Nigeria Tax Administration Act, the Nigeria Revenue Service (Establishment) Act, and the Joint Revenue Board (Establishment) Act, all operating under a single authority, the Nigeria Revenue Service.
