President Bola Tinubu has reaffirmed that Nigeria’s new tax laws will take effect tomorrow, January 1, 2026, despite mounting calls for a delay. He said no substantial issue has been found to justify suspending the reforms, which he described as a once in a generation chance to build a fair and stronger fiscal system.
Tinubu explained that the new tax laws are not aimed at simply raising taxes but at restructuring the system, harmonising levies and protecting citizens’ dignity while strengthening the social contract. He urged all stakeholders to support the implementation phase and promised that the Presidency will work with the National Assembly to quickly resolve any genuine concerns about the laws.
He also responded to public criticism over alleged changes between the version of the tax laws passed by the National Assembly and the gazetted version. The President said his administration remains committed to due process and the integrity of enacted laws, adding that absolute trust will be earned over time through the right decisions, not “premature, reactive measures.”
The Peoples Democratic Party, PDP, has renewed its demand that the commencement of the new tax regime be suspended over what it calls “dangerous provisions” allegedly smuggled into the gazetted law. The party said Nigerians deserve a thorough investigation to determine who inserted the disputed sections and how they were included, warning that pushing ahead despite public outcry places money above citizens’ welfare.
The PDP argued that even the suspicion that unapproved sections were added to a law affecting all Nigerians is enough reason to pause its implementation. It accused the Tinubu administration of prioritising finances over people’s well being, citing the fuel subsidy removal in 2023 as an example of policies that inflicted severe economic hardship.
In contrast, the Nigeria Employers’ Consultative Association, NECA, has backed the January 1 start date for the tax reforms, calling any delay “a crime against Nigeria.” NECA Director General Adewale Smatt Oyerinde said stakeholders should allow the reforms to proceed while fixing genuine issues through amendments, noting that no major law is perfect from the outset.
Oyerinde said the reforms have significant potential economic benefits if properly implemented and that organised private sector groups will keep engaging and holding the process accountable. He praised the extensive consultations led by the Presidential Committee on Fiscal Policy and Tax Reforms but stressed that businesses still need a more stable and supportive operating environment.
On foreign exchange, he observed that while the naira has hovered between 1,400 and 1,450 to the dollar for months, the gains seen at the macro level have not yet improved conditions for ordinary Nigerians. He expressed hope that 2026 will be the year when macroeconomic stability begins to translate into real relief at the micro level for households and businesses.
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