Tax Reform Delay Beyond January 1 Will Hurt Businesses, Poor — Oyedele
Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has warned that delaying the implementation of Nigeria’s tax reform beyond January 1, 2026, will negatively impact businesses and worsen the economic burden on low-income earners.
Oyedele stated that postponing the reforms would mean workers and businesses continue to operate under an outdated and inefficient tax system that overtaxes productive citizens while discouraging investment and growth. According to him, the proposed reforms are designed to simplify the tax structure, reduce multiple taxation, and make the system fairer and more inclusive.
He explained that many small and medium-sized enterprises (SMEs) are already struggling under heavy tax obligations and regulatory bottlenecks, noting that further delay would deepen their challenges and limit job creation.
The committee chairman also emphasized that the reforms aim to protect the poor by removing unnecessary tax pressures and ensuring that tax policies support economic growth rather than stifle it. He urged relevant stakeholders, including lawmakers and state governments, to work together to ensure the reforms take effect as scheduled.
Oyedele stressed that timely implementation is crucial for restoring investor confidence, improving government revenue efficiency, and creating a more balanced tax environment that supports businesses while easing the burden on ordinary Nigerians.
