New tax laws to commence January 1, 2026
Omeiza Bilal
President Bola Tinubu has said the new tax laws will come into effect on January 1, 2026.
The law has come under intense scrutiny following allegations of alterations.
There have been strong opposition against the commencement of the laws by Nigerians with many fearing that it would lead to increased tax payment by poor and vulnerable Nigerians.
However, in a statement Tuesday in Abuja, the President noted that contrary to insinuations, the new laws will harmonise and help build a sound fiscal foundation for the country.
He said: “The new tax laws, including those that took effect on June 26, 2025, and the remaining acts scheduled to commence on January 1, 2026, will continue as planned.
“These reforms are a once-in-a-generation opportunity to build a fair, competitive, and robust fiscal foundation for our country.
“The tax laws are not designed to raise taxes, but rather to support a structural reset, drive harmonisation, and protect dignity while strengthening the social contract.
“I urge all stakeholders to support the implementation phase, which is now firmly in the delivery stage.”
Reform process to go on
While acknowledging the various arguments against the implementation of the tax laws, President Tinubu averred that there was no substantial ground to disrupt its implementation.
“Our administration is aware of the public discourse surrounding alleged changes to some provisions of the recently enacted tax laws.
“No substantial issue has been established that warrants a disruption of the reform process. Absolute trust is built over time through making the right decisions, not through premature, reactive measures.
“I emphasise our administration’s unwavering commitment to due process and the integrity of enacted laws,” the President stressed.
He pledges to work with the National Assembly to ensure the swift resolution of any issue identified.
He assured all Nigerians that the Federal Government will continue to act in the overriding public interest to ensure a tax system that supports prosperity and shared responsibility.
