January 1 Implementation Date For Tax Laws Is Sacrosanct, Oyedele Insists

Special Report: January 1 Implementation Date for Tax Laws Is Sacrosanct, Oyedele Insists

The Federal Government of Nigeria has reaffirmed that the commencement of new tax laws on January 1, 2026, is non-negotiable, with Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, stressing that the date remains sacrosanct despite controversies.

In a decisive statement following a meeting with President Bola Tinubu in Lagos, Taiwo Oyedele emphasized that the reforms embedded in the Nigerian Tax Act and the Nigerian Tax Administration Act will begin on schedule. He explained that the reforms are not designed to raise quick revenue but to stimulate economic growth, ensure fairness, and provide relief to the majority of Nigerians.

According to Oyedele, the bottom 98 percent of workers will either pay no personal income tax or face reduced obligations, while 97 percent of small businesses will be exempted from corporate income tax, VAT, and withholding tax. Large businesses, meanwhile, are expected to benefit from a reduction in their overall tax burden.

Oyedele dismissed allegations that the gazetted versions of the tax laws had been altered after passage by the National Assembly, describing such claims as misinformation aimed at stalling reforms. 

He clarified that only the harmonized versions certified by the Clerk of the National Assembly and transmitted to the President can authoritatively confirm the provisions. He reiterated that the reforms were the product of extensive consultation with stakeholders across Nigeria, designed to fix systemic inefficiencies and promote inclusivity.

The Federal Government has already commenced implementation of two out of four tax reform laws, with the remaining two scheduled to take effect on January 1, 2026.

Oyedele underscored that the administration is fully committed to the timeline, noting that the reforms are critical to achieving shared prosperity and reducing the burden on ordinary citizens. He insisted that the January 1 date is sacrosanct and will not be shifted under any circumstances.

The reforms are expected to reshape Nigeria’s fiscal landscape significantly. By exempting the majority of workers and small businesses from major taxes, the government aims to encourage entrepreneurship, reduce poverty, and broaden economic participation. 

At the same time, the reduction in taxes for large corporations is intended to attract investment and foster competitiveness.

Oyedele’s insistence on the January 1 implementation date signals the government’s determination to maintain credibility and consistency in its fiscal policy, even in the face of public skepticism and political controversy.

The January 1, 2026 implementation date for Nigeria’s new tax laws stands as a firm commitment by the government to usher in a new era of fiscal responsibility, fairness, and economic growth.

Oyedele’s unwavering stance reflects both the urgency and importance of these reforms, which are expected to deliver tangible benefits to workers, small businesses, and the broader economy.