Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr. Taiwo Oyedele, has warned that failure to implement Nigeria’s newly enacted tax reform laws from January 1, 2026, would leave about 98 per cent of Nigerian workers overtaxed and perpetuate multiple tax burdens on businesses and households.

Oyedele gave the warning on Monday during an interview on Channels Television, amid growing calls by former Vice President Atiku Abubakar, the Labour Party’s 2023 presidential candidate, Mr. Peter Obi, and several civil society organisations for the suspension of the new tax laws.

According to him, any delay in implementation would deny workers and businesses the reliefs embedded in the reforms, while allowing inefficiencies in the existing tax system to persist.
He explained that most workers would continue to face multiple taxation, while businesses would miss out on exemptions designed to ease their operations and remain weighed down by overlapping levies.

Oyedele added that minimum taxes would continue to apply to small and unprofitable businesses, while what he described as “hidden VAT” would keep driving up the cost of basic necessities such as food, healthcare and education.
He argued that instead of calling for a wholesale suspension of the reforms, stakeholders should focus on identifying and addressing specific areas of concern within the laws.

According to him, even where substantial alterations are established between what the National Assembly passed and what was eventually gazetted, such contentious provisions should be isolated and addressed without halting the implementation of the core legislation.

“If it is established that there have been alterations to what the National Assembly passed, those provisions should be identified and treated as not forming part of the law, while the law as passed by the National Assembly is implemented,” he said.

Oyedele acknowledged that some aspects of the versions already passed by the National Assembly would still require amendments, particularly in areas relating to referencing and definitions.
He disclosed that his committee would, through the President, request corrections to the affected sections.

The committee chairman also spoke on the controversy surrounding alleged discrepancies between the tax bills passed by the National Assembly and the versions later gazetted.

A member of the House of Representatives, Mr. Abdulsamad Dasuki, had earlier raised concerns that the gazetted laws did not reflect what lawmakers debated and approved, describing the situation as a breach of legislative procedure.

Dasuki noted that lawmakers had yet to receive the official harmonised bills certified by the Clerk of the National Assembly, making it difficult to conclusively determine whether discrepancies existed.

Responding, Oyedele said he had reached out to the relevant House committee regarding a contentious provision requiring a 20 per cent deposit, adding that the committee informed him it had not formally met on the issue.
He clarified that while the provision appeared in a draft gazette, it was not included in the final version.

Oyedele stressed that reports circulating in the media did not originate from the House committee and urged stakeholders to allow due process to take its course.

President Bola Tinubu recently signed four tax reform bills into law, describing them as the most significant overhaul of Nigeria’s tax system in decades.
The laws, scheduled to take effect from January 1, 2026, include the Nigeria Tax Act, the Nigeria Tax Administration Act, the Nigeria Revenue Service (Establishment) Act and the Joint Revenue Board (Establishment) Act, all to operate under the newly established Nigeria Revenue Service.

Despite opposition from some federal lawmakers, particularly from the North, Oyedele maintained that timely implementation of the reforms is crucial to easing the tax burden on workers, supporting businesses and improving the overall efficiency of Nigeria’s tax system.