The Minority Caucus of the House of Representatives has called on the Federal Government to suspend the implementation of proposed tax laws amidst growing controversies over alleged alterations to the bills.
The demand for a halt comes despite assertions from Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, who maintained last week that the January 1, 2026, commencement date for the Nigerian Tax Act and the Nigerian Tax Administration Act remains fixed. Oyedele argued that the reforms are specifically designed to provide economic relief to the majority of Nigerians and promote shared prosperity.
According to the committee’s projections, the new tax regime would benefit the vast majority of the workforce and the private sector. Oyedele noted that the bottom 98% of workers would see either a total exemption or a significant reduction in Pay As You Earn (PAYE) taxes. Furthermore, 97% of small businesses would be exempted from Corporate Income Taxes, Value Added Tax (VAT), and Withholding Tax, while larger corporations would also see a decrease in their tax burdens to stimulate economic growth.
Despite the Minority Caucus’s concerns regarding the integrity of the documents currently before the legislature, Oyedele welcomed the National Assembly’s scrutiny of the alleged alterations. He affirmed that the Federal Government is prepared to collaborate with lawmakers to address the grievances raised by both the public and opposition figures to ensure the reforms remain inclusive.
