The Federal Government will implement the Nigerian Tax Act and the Nigerian Tax Administration Act on January 1, 2026, as scheduled, the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has confirmed.
Oyedele made the announcement in Lagos on Friday after a meeting with President Bola Tinubu.
The meeting was also attended by the Chairman of the Federal Inland Revenue Service (FIRS), Zacchaeus Adedeji, and the Chairman of the National Tax Policy Implementation Committee, Joseph Tegbe.
He explained that the reforms are designed to provide relief to Nigerians, adding that “the bottom 98 percent of workers will see either no Pay As You Earn (PAYE) tax or lower taxes, while 97 percent of small businesses will be exempted from Corporate Income Tax, Value Added Tax (VAT), and Withholding Tax.”
“Large businesses will also experience reduced tax liabilities. The goal is to promote economic growth, inclusivity, and shared prosperity.”
Oyedele also addressed concerns raised by lawmakers over discrepancies between the versions of the laws debated in the National Assembly and those gazetted for public use.
He assured that the Federal Government is ready to work with lawmakers to address any issues.
“The official harmonised bills certified by the clerk and sent to the President are the authoritative documents. Only the National Assembly can confirm what was passed. We are ready to engage with lawmakers to clarify any differences,” he said.
President Bola Tinubu had signed four tax reform bills into law in June 2025, marking the most significant overhaul of Nigeria’s tax system in decades.
The laws include the Nigeria Tax Act, Nigeria Tax Administration Act, Nigeria Revenue Service (Establishment) Act, and the Joint Revenue Board (Establishment) Act, all now operating under the Nigeria Revenue Service.
The new tax laws faced stiff opposition from northern lawmakers before their passage, but the government has reaffirmed that there will be no delay in their implementation.
