The Federal Government has rejected calls to suspend the implementation of new tax laws from January 1, 2026.
The chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, disclosed this while addressing journalists following the visit of the National Tax Policy Implementation Committee, NTPIC, chaired by Joseph Tegbe, to President Bola Tinubu at his residence in Lagos.Oyedele assured that the reforms under the new tax laws are intended to provide relief to Nigerians and stimulate economic growth.
According to Oyedele, “The plan to commence the two remaining new laws on the 1st of January 2026 will go ahead as planned on schedule because these reforms are designed to provide relief to the Nigerian people.
“Bottom 98 per cent of workers will see either no PAYE tax or lower taxes to be paid; small businesses, 97 per cent of them, will be exempted from corporate income tax, VAT, withholding tax, and large businesses will see a drop in the taxes that they pay.
“The whole idea is to try and promote economic growth, inclusivity, and shared prosperity for our people. We are actually excited at the progress we are making, and we are looking forward to January 1, 2026.”
Oyedele said the tax reform bills spent nine months at the National Assembly between October 2024 and June 2025, allowing preparations to begin early.Since the laws were signed, he said the government has spent the last six months on capacity building, system upgrades, and stakeholder sensitisation.
He explained that the early commencement of two of the laws was deliberate, enabling new institutions to begin operations and prepare ahead of full rollout in 2026.According to him, tax reform is an ongoing process that improves over time.
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