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The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has said that delaying the implementation of the new tax laws beyond January 1, 2026, could negatively impact workers and businesses.
Oyedele’s comment comes in the wake of the controversy surrounding the tax laws over alleged discrepancies between those passed by the National Assembly and the versions later gazetted.
According to Abdulsamad Dasuki, a House of Representatives member, the gazetted laws do not reflect what was debated and approved on the floor of the House.
Dasuki’s concerns have been met with calls for the suspension of the laws’ implementation, with former Vice President Atiku Abubakar and 2023 presidential election candidate Peter Obi joining their voices.
Speaking on Channels Television’s The Morning Brief on Monday, Oyedele stated that workers would continue to experience multiple taxation if the laws are not implemented.
“The implication of not implementing the new tax laws by January 1, 2026, is that the bottom 98 per cent of workers remain overtaxed.
“Businesses will miss out on exemptions and will continue to pay multiple taxes, creating large burdens.
“Minimum taxes continue to apply on low and small unprofitable businesses, while hidden VAT keeps the prices of basic consumables like food, healthcare, and education high,” he said.
Instead of calling for a suspension of the laws, Oyedele suggested that concerns should be addressed directly.
“Even if it is established that there have been substantial alterations to what the National Assembly passed, my view is to identify those provisions—they are not part of the law—then implement the law as passed by the NASS while addressing the issues as to how they got there in the first place,” Oyedele said.
