President Bola Tinubu insists that the new tax laws will take effect on January 1, 2026, as planned.
This was disclosed in a statement signed by President Tinubu on Tuesday and issued by the State House.
According to the statement, this came as former Vice President Atiku Abubakar and the Peoples Democratic Party lamented the move as hasty and insensitive amidst ongoing controversies surrounding the alleged alterations to the legislation.
Report says, President Tinubu, on June 26, 2025, signed the four Tax Reform Bills into law. These laws include the Nigeria Tax Act, the Nigeria Tax Administration Act, the Nigeria Revenue Service Act, and the Joint Revenue Board Act.
The Acts comprehensively overhaul the Nigerian tax landscape to drive economic growth, increase revenue generation, improve the business environment, and enhance effective tax administration across the different levels of government. While some of the laws have gone into effect, others are set to go into effect on January 1st.
Punch/Taiwo Akinola
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