Presidency Reacts To Controversy Surrounding New Tax Regulations

The Presidency has dismissed the controversy surrounding the new tax laws set to take effect in Nigeria on January 1.....KINDLY READ THE FULL STORY HERE▶

Concerns had been raised by some political stakeholders over alleged discrepancies between the versions of the tax laws passed by the National Assembly and those that were gazetted and made public.

Abdulsamad Dasuki, a member of the House of Representatives, claimed that his legislative rights were violated, arguing that the content of the gazetted tax laws did not reflect what lawmakers had debated and approved in the House.

However, speaking on Channels Television’s Morning Brief, Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, dismissed the circulating claims as false.

He explained, “Before claiming there is a difference between what was gazetted and what was passed, we have to note that we don’t have the official harmonised bills certified by the clerk—the ones sent to the President. Only the lawmakers can authoritatively confirm what was submitted. I only have what was presented to the President for signature.”

Oyedele further clarified a specific concern regarding Section 41(8), which stipulates a 20 percent deposit. He noted that this provision appeared in a draft gazette but not in the final version and emphasized that media reports circulating on the matter were premature and not authorized by the House committee.

“I know that particular provision is not in the final gazette. Some people circulated a draft report before the committee even met. The information in the media did not come from the House of Representatives’ committee, and we should allow them to conduct their investigation,” Oyedele added.

President Bola Tinubu recently signed four tax reform bills into law, described by the government as the most significant overhaul of Nigeria’s tax system in decades.

The laws, which had faced opposition from some northern federal lawmakers, are scheduled to come into effect on January 1, 2026. They include the Nigeria Tax Act, Nigeria Tax Administration Act, Nigeria Revenue Service (Establishment) Act, and Joint Revenue Board (Establishment) Act, all operating under the Nigeria Revenue Service.

According to the Federal Government, the reforms aim to simplify tax compliance, expand the tax base, eliminate overlapping taxes, and modernize revenue collection across federal, state, and local levels.