Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has outlined far-reaching consequences Nigerians could face if the newly enacted tax reform laws are not implemented from January 1, 2026, warning that workers, small businesses, and consumers would bear the brunt of any delay.
Oyedele spoke on Monday amid growing calls by former Vice President Atiku Abubakar, the 2023 Labour Party presidential candidate, Peter Obi, and several civil society organisations for a suspension of the laws’ implementation. The critics have raised concerns over the content and process surrounding the new tax framework.
Appearing on Channels Television’s The Morning Brief, Oyedele argued that postponing the reforms would perpetuate long-standing inefficiencies in Nigeria’s tax system. According to him, about 98 per cent of workers would continue to suffer from excessive and multiple taxation if the reforms fail to take effect as scheduled.
He explained that businesses would also remain burdened by overlapping taxes and would be unable to benefit from exemptions introduced under the new laws. Oyedele added that minimum tax obligations would continue to apply to small and unprofitable enterprises, worsening the operating environment for micro and small businesses.
Oyedele further noted that indirect and “hidden” value-added taxes would continue to drive up the cost of essential goods and services, including food, healthcare, and education, thereby increasing the cost of living for ordinary Nigerians.
Rather than calling for a wholesale suspension of the reforms, Oyedele urged stakeholders to clearly identify and address specific areas of concern within the laws. He maintained that if certain provisions were found to have been altered or inserted improperly, such sections should be isolated and corrected without halting the overall implementation.
He disclosed that even his committee had identified areas in the version passed by the National Assembly that would require amendments, particularly with respect to definitions and cross-referencing. According to him, such issues could be addressed through formal amendment requests routed through the President.
Oyedele also weighed in on the controversy surrounding alleged discrepancies between the tax bills passed by the National Assembly and the versions that were later gazetted. A member of the House of Representatives, Abdulsamad Dasuki, had earlier raised alarm over what he described as inconsistencies, arguing that the gazetted laws did not reflect what lawmakers debated and approved.
Dasuki claimed that legislators did not have access to the final harmonised version certified by the Clerk of the National Assembly, making it difficult to authoritatively determine whether changes were made after passage.
Reacting to the issue, Oyedele said he contacted the House of Representatives Committee over a controversial provision, Section 41(8), which required a 20 per cent deposit. He noted that the committee informed him that it had not met to deliberate on the matter.
According to Oyedele, the disputed provision was included in an early draft gazette but did not appear in the final version. He alleged that some reports circulating in the media were prepared before the committee concluded its work, stressing that such documents did not originate from the official House committee.
President Bola Tinubu recently signed four major tax reform bills into law, describing the move as the most significant overhaul of Nigeria’s tax system in decades. The reforms, which initially faced strong opposition from some lawmakers, particularly from the northern region, are slated to come into force on January 1, 2026.
The new laws include the Nigeria Tax Act, the Nigeria Tax Administration Act, the Nigeria Revenue Service (Establishment) Act, and the Joint Revenue Board (Establishment) Act, all of which will operate under a unified authority known as the Nigeria Revenue Service.
