The Federal Government has reaffirmed that the Nigeria Tax Act and Tax Administration Act will take effect on January 1, 2026, despite concerns over alleged changes in the gazetted versions of the laws.
Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, told journalists in Lagos after briefing President Bola Tinubu that the reforms aim to relieve Nigerians, not generate immediate revenue.
“Bottom 98 per cent of workers will see either no pay tax or lower taxes. Small businesses, 97 per cent of them, will be exempt from corporate income tax, VAT, and withholding tax,” Oyedele said. Large businesses will also see reduced taxes. He described the reforms as designed to promote economic growth, inclusivity, and shared prosperity.
Oyedele highlighted that preparations for implementation began in October 2024, when the bills were first submitted to the National Assembly, and have continued for over a year with system upgrades, capacity building, and public sensitisation. Two of the four laws, the Nigeria Revenue Service Establishment Act and the Joint Revenue Board Establishment Act, commenced in June 2025 to allow institutions to prepare for full implementation.
The committee chairman clarified that immediate revenue generation is not the objective. He explained that reforms will boost revenue over time through economic growth, rationalising fiscal incentives, and improving compliance via increased tax awareness.
The announcement follows controversy over alleged discrepancies between the versions of the laws passed by the National Assembly and those published in the Official Gazette. Rep. Abdussamad Dasuki (Sokoto) raised concerns that the gazetted copies included unauthorized provisions, such as coercive fiscal powers, compulsory USD computation, and appeal security deposits.
In response, the National Assembly ordered the re-gazetting of the four tax laws and the issuance of Certified True Copies reflecting the exact versions passed by both chambers. House spokesman Akin Rotimi said the move was purely administrative and did not imply any defect in legislative authority.
An Ad Hoc Committee led by Muktar Betara (APC, Borno) has been established to investigate the sequence of events surrounding the passage, presidential assent, and gazetting of the laws.
