New tax laws to commence January 1 as planned: Tinubu
President Bola Tinubu says the new tax laws, including those that took effect on June 26 and others scheduled to commence on January 1, 2026, will be implemented as planned.
The president, in a statement on Tuesday, described the reforms as a once-in-a-generation opportunity to build a fair, competitive, and robust fiscal foundation for the country.
“The reforms are a once-in-a-generation opportunity to build a fair, competitive, and robust fiscal foundation for our country,” Mr Tinubu said.
He clarified that the tax laws were not designed to increase the tax burden on Nigerians but to reset the fiscal system, promote harmonisation, and strengthen the social contract.
Mr Tinubu said, “The tax laws are not designed to raise taxes, but rather to support a structural reset, drive harmonisation, and protect dignity while strengthening the social contract.”
The president urged the stakeholders to support the implementation phase, noting that the reforms had now moved firmly into the delivery stage.
“I urge all stakeholders to support the implementation phase, which is now firmly in the delivery stage,” he said.
Mr Tinubu acknowledged the ongoing public discourse regarding alleged changes to provisions of the recently enacted tax laws.
He said no substantial issue had been identified to justify halting or disrupting the reform process.
“No substantial issue has been established that warrants a disruption of the reform process,” Mr Tinubu maintained.
The president emphasised his administration’s commitment to due process and the integrity of laws duly enacted by the National Assembly.
“Absolute trust is built over time through making the right decisions, not through premature, reactive measures,” Mr Tinubu said.
He assured Nigerians that the presidency would continue to work with the National Assembly to address any issues that may arise during implementation.
“I assure all Nigerians that the federal government will continue to act in the overriding public interest to ensure a tax system that supports prosperity and shared responsibility,” he said.
(NAN)
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