The Federal Government is pushing back against calls to postpone new tax legislation set to take effect in January 2026, arguing that any delay would hurt ordinary Nigerians and the broader economy.
Taiwo Oyedele, who chairs the Presidential Committee on Fiscal Policy and Tax Reforms, addressed mounting criticism during a television interview Monday. The administration has faced backlash over alleged inconsistencies between tax bills approved by lawmakers and the official versions released to the public after President Bola Ahmed Tinubu signed them into law.
Oyedele cautioned that stalling the reforms would maintain a system that disproportionately burdens everyday workers and small enterprises. He pointed out that resistance to the changes existed well before the recent controversy over possible alterations to the legislation.
The tax reform chief attributed much of the opposition to misleading information circulating among the public. He emphasized that any decision to pause or postpone implementation ultimately rests with the National Assembly, not with his committee.
“Even before questions about alterations arose, various groups were demanding we suspend or reject these reforms entirely. Our biggest challenge has been combating misinformation,” Oyedele explained. “Some have recruited well-meaning Nigerians to oppose reforms designed to help the majority, primarily by spreading fear.”
Under the current tax structure, which would remain in place if reforms are delayed, Oyedele said 98 percent of workers face excessive taxation. Small businesses continue missing out on available exemptions while dealing with multiple tax obligations. Larger companies grapple with burdensome minor taxes, and minimum tax requirements still apply to those with low incomes and struggling businesses.
He also warned that hidden value-added taxes embedded in the current system drive up costs for essential items including food, medical care and education.
Addressing the alteration allegations directly, Oyedele suggested a practical approach: if investigations confirm unauthorized changes occurred, those specific provisions should simply be identified and excluded from the law. The remainder could then be implemented as legislators originally intended, while separately addressing how any changes happened and what accountability measures are needed.
Oyedele revealed that his committee has already spotted areas in the National Assembly-approved legislation requiring amendments, including inconsistencies in how key terms are defined. He cited the definition of “small business,” which varies between two of the new laws, as an example of necessary corrections that would require legislative action regardless of the current controversy.
READ ALSO:
- WHO Says Nigeria Has No Active Ebola Cases After Patient’s Evacuation
- Agbara Nla: The Return Hits ₦408.3m, Breaks Box Office Records
- Sanwo-Olu Says Opebi-Mende-Ojota Link Bridge Will Open Before Christmas
- Gbenga Daniel’s Legacy: How His Projects Helped Shape Ogun State’s Industrial Growth
- Obi Demands Release Of Campaigner, Decries Harassment Of Supporters
