No Delay In New Tax Laws Despite Controversy — Oyedele

Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has said  there would be no delay in the commencement of Nigeria’s new tax laws, despite the recent controversy over alleged alterations to the legislation.

He gave the assurance yesterday while giving an update on the implementation of the tax reform Acts to President  Bola Tinubu at his Lagos residence.

Oyedele was accompanied to the meeting by the chairman of the Federal Inland Revenue Service, Zacchaeus Adedeji and chairman of the National Tax Policy Implementation Committee, Joseph Tegbe.

Oyedele said the government remained fully committed to the agreed implementation timeline, noting that two of the four tax reform laws had already taken effect.

“As you are already aware, there are four of those laws, and two of them have already commenced,” he said. According to him, the Nigerian Revenue Service Establishment Act and the Joint Revenue Service Establishment Act both took effect on June 26, 2025.

He added that the remaining two laws,  the Nigerian Tax Act and the Nigerian Tax Administration Act,  are scheduled to commence on January 1, 2026, as originally planned.

Oyedele welcomed the intervention of the House of Representatives Committee which recently concluded its work on allegations of alterations to the tax reform bills.

“We welcome the statement by the National Assembly, House of Representatives committee today on the findings and the work around the allegations about alteration,” he said.

He stressed that the federal government would work with the National Assembly if any further action became necessary but made it clear that the implementation timeline would not be affected.

“The plan to commence the two remaining new laws on the first of January 2026 will go ahead as planned, on schedule,” Oyedele said.

He explained that the reforms were deliberately designed to ease the tax burden on Nigerians rather than to generate immediate revenue for government.

According to him, the bottom 98 per cent of workers will either pay no personal income tax or pay lower taxes under the new regime, while about 97 per cent of small businesses will be exempt from corporate income tax, value added tax and withholding tax.

Oyedele also noted that large businesses would benefit from reduced tax obligations, describing the reforms as pro-growth and inclusive.

“The whole idea is to promote economic growth, inclusivity, as well as shared prosperity for our people,” he said, adding that the government was encouraged by the progress made so far and was looking forward to January 1, 2026.

Responding to questions on government readiness and revenue expectations, Oyedele said preparation for the reforms began from the moment the bills were submitted to the National Assembly in October 2024.

He explained that the bills spent nine months in the legislature before being passed in June 2025, while the period since presidential assent had been used for capacity building, system upgrades and public sensitisation.