By Aduragbemi Omiyale

President Bola Tinubu has emphasised that the implementation of the new tax laws remains Thursday, January 1, 2026.

He made this declaration in a statement he personally signed on Tuesday, December 30, 2025.

The new tax laws have generated controversies, especially after a member of the House of Representatives, Mr Abdusammad Dasuki, called the attention of his colleagues to the discrepancies in the harmonised and gazetted versions.

The alterations were acknowledged by the parliament, which ordered the re-gazetting of the harmonised version.

There have been calls from various quarters, including from the opposition for the suspension of the laws and prosecution of those involved in the mess.

However, Mr Tinubu seems not to be bothered about this, as he noted in the statement today that nothing will change the commencement of the implementation of the tax laws.

Business Post reports that two of the four laws took effect on June 26, 2025, and the remaining acts are scheduled to commence on January 1, 2026.

According to the President, these “reforms are a once-in-a-generation opportunity to build a fair, competitive, and robust fiscal foundation for our country.”

“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.

“I urge all stakeholders to support the implementation phase, which is now firmly in the delivery stage.

“Our administration is aware of the public discourse surrounding alleged changes to some provisions of the recently enacted tax laws.

“No substantial issue has been established that warrants a disruption of the reform process. Absolute trust is built over time through making the right decisions, not through premature, reactive measures.

“I emphasise our administration’s unwavering commitment to due process and the integrity of enacted laws. The Presidency pledges to work with the National Assembly to ensure the swift resolution of any issue identified.

“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 stated.

Recall that over the weekend, the chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr Taiwo Oyedele, stressed that the laws would take effect from January 1, 2026.

Nigeria Revenue Service (Establishment) Act, the Joint Revenue Board of Nigeria (Establishment) Act, the Nigeria Tax Act, and the Nigeria Tax Administration Act.

By Adedapo Adesanya

The Chairman of the Nigerian Exchange (NGX) Group Plc, Mr Umaru Kwairanga, has urged the Central Bank of Nigeria (CBN), the Securities and Exchange Commission (SEC) and other policymakers to harmonise policy frameworks in 2026.

Mr Kwairanga said clear and consistent policies on taxation, foreign exchange and cross-border capital repatriation would reduce uncertainty and boost investor confidence.

“Policy harmonisation is critical to reducing volatility and attracting sustained foreign investment,” he said while speaking with the News Agency of Nigeria (NAN) on Monday.

The NGX Chairman also called for enhanced regulatory clarity on key market levers, including capital gains tax, clearing and settlement efficiency, and disclosure standards.

“Clear rules and efficient processes will strengthen market integrity and operational confidence,” he said.

Mr Kwairanga urged regulators to promote product innovation within the capital market.

“The development of derivatives, exchange-traded products and securitised instruments will expand the investor base and improve risk management,” he said.

Mr Kwairanga advised market operators on the need for continuous investor education, saying this will broaden participation, deepen liquidity and build long-term confidence.

He disclosed operators must also invest in technology and infrastructure to improve market access, stressing that market integrity must remain paramount.

“Efficient trading platforms, settlement systems and cross-border connectivity are essential for competitiveness.

“High standards of transparency and enforcement underpin investor trust, both domestic and international,” he said.

Mr Kwairanga also advised investors and issuers to adopt long-term investment strategies as diversified, long-horizon portfolios support market depth and capital stability.

He encouraged market participants to leverage digital tools to reduce costs and enhance transparency.

Mr Kwairanga noted that strong environmental, social and governance practices were vital for attracting global capital.

“ESG and sound governance are critical for sustainable valuations,” he said.

Mr Kwairanga said the Nigerian capital market recorded a commendable performance in 2025 as he attributed the gains to reforms, stronger corporate actions and resilient market participation.

He expressed confidence that the foundations laid would position the market for greater opportunities in 2026 and beyond.

“Collaboration among investors, regulators and operators remains central to building a deeper and globally attractive capital market,” he said.

By Adedapo Adesanya

Former Vice-President, Mr Atiku Abubakar, has recommended that the National Assembly shelve plans to re-gazette the recently passed controversial tax reform laws, and instead carry out a fresh passage ahead of the implementation by January 1, 2026.

Mr Atiku, who came second in the 2023 presidential polls, in a statement described the discrepancy in the gazetted copy of the tax law as a “grave constitutional issue”.

He noted that any law published in a form different from what was approved by lawmakers is “a nullity”.

“The confirmation by the Senate that the gazetted version of the Tinubu Tax Act does not reflect what was duly passed by the National Assembly raises a grave constitutional issue,” he stated.

“A law that was never passed in the form in which it was published is not law. It is a nullity. Under Section 58 of the 1999 Constitution, the lawmaking process is clear: passage by both chambers, presidential assent, and only then gazetting.

“Gazetting is an administrative act; it does not create law, amend law, or cure illegality.”

He warned that post-passage insertions, deletions, or modifications without legislative approval amount to “forgery, not a clerical error”.

“No administrative directive by the Senate President, Godswill Akpabio, or the Speaker of the House, Tajudeen Abbas, can validate such a defect or justify a re-gazetting without re-passage and fresh presidential assent,” he added.

He also said attempts to rush a re-gazetting while delaying legislative investigations “undermine parliamentary oversight and set a dangerous precedent.

Recall that the National Assembly announced that it would work with relevant ministries, departments, and agencies to re-gazette the tax reform laws after a member of the House of Representatives, Mr Abdussamad Dasuki, on December 17 said there are discrepancies between the tax reform law passed by the national assembly and the gazetted copy available to the public.

Other quarters including the Nigerian Bar Association (NBA) have also called for the suspension of the implementation of the tax laws, pending a full investigation

The tax reform law, expected to take full effect in January 2026, faced resistance even before its passage into law.

However, the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr Taiwo Oyedele, has said the January 1, 2026 date for the implementation of the Nigerian Tax Act and the Nigerian Tax Administration Act is sacrosanct.