President Bola Tinubu has announced that the new tax laws, including those that came into effect on 26 June and others set to begin on 1 January 2026, will be implemented as scheduled.
In a statement released on Tuesday, the president described the reforms as a once-in-a-generation opportunity to establish a fair, competitive, and robust fiscal foundation for the nation.
“The reforms present a once-in-a-generation opportunity to create a fair, competitive, and resilient fiscal framework for our country,” Mr Tinubu stated.
He clarified that the tax laws are not intended to increase the tax burden on citizens but to reset the fiscal system, promote harmonisation, and strengthen the social contract.
“The tax laws are not aimed at raising taxes; rather, they support a structural reset, drive harmonisation, and uphold dignity while reinforcing the social contract,” Mr Tinubu explained.
The president urged stakeholders to support the implementation phase, noting that the reforms have now entered the delivery stage.
“I encourage all stakeholders to back the implementation phase, which is now firmly in the delivery stage,” he remarked.
Mr Tinubu acknowledged the ongoing public debate regarding alleged alterations to the provisions of the recently enacted tax laws.
He stated that no significant issues have been identified that would justify halting or disrupting the reform process.
“No substantial issue has been established that warrants a disruption of the reform process,” Mr Tinubu asserted.
The president reiterated his administration’s commitment to due process and the integrity of laws duly enacted by the National Assembly.
“Absolute trust is built over time through making the right decisions, not through premature, reactive measures,” Mr Tinubu emphasised.
He assured Nigerians that the presidency would continue to collaborate with the National Assembly to address any issues that may arise during implementation.
“I assure all Nigerians that the federal government will continue to act in the overriding public interest to ensure a tax system that promotes prosperity and shared responsibility,” he concluded.
(NAN)
