Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has warned that delaying the implementation of Nigeria’s new tax laws beyond January 1, 2026, could have serious consequences for workers and businesses across the country.
Oyedele spoke amid concerns over alleged discrepancies between the versions of the tax reform laws passed by the National Assembly and those later gazetted. A member of the House of Representatives, Abdulsamad Dasuki, had raised questions about whether the gazetted laws accurately reflected what lawmakers approved.
Speaking on Channels Television’s The Morning Brief, Oyedele said postponing the reforms would leave most Nigerian workers worse off. “The implication of not implementing the new tax laws by January 1, 2026, is that the bottom 98 per cent of workers remain overtaxed,” he said.
He added that businesses would also suffer if the reforms are delayed. According to him, companies would miss out on planned exemptions and continue to face multiple layers of taxation.
“Minimum taxes will continue to apply to low-income and small unprofitable businesses, while hidden VAT will keep the prices of basic consumables like food, healthcare and education high,” Oyedele explained.
Oyedele advised against suspending the laws, even if discrepancies are confirmed. Instead, he said questionable provisions should be isolated and excluded while the laws passed by the National Assembly are implemented.
“If it is established that there have been substantial alterations to what the National Assembly passed, my view is to identify those provisions, declare that they are not part of the law, and implement the law as passed,” he said.
He also acknowledged that some sections of the legislation may still require amendments. “Even my committee has identified areas where we need to return through Mr President to request amendments, particularly around referencing and definitions,” Oyedele noted.
Clarifying reports about Section 41(8), which allegedly required a 20 per cent deposit, Oyedele said the provision did not appear in the final gazette. “That provision was in a draft gazette, not the final version. Some reports were circulated before the committee met, and they did not come from the House committee,” he said.
The tax reform package comprises four bills: the Nigeria Tax Act, the Nigeria Tax Administration Act, the Nigeria Revenue Service (Establishment) Act, and the Joint Revenue Board (Establishment) Act. Described as the most comprehensive overhaul of Nigeria’s tax system in decades, the laws are scheduled to take effect under the Nigeria Revenue Service from January 1, 2026.