The Federal Government has defended the planned January 2026 implementation of the new tax bills recently signed into law by President Bola Ahmed Tinubu.
The presidency has come under heavy criticisms over alleged alterations and discrepancies between the tax laws passed by the National Assembly and the versions later gazetted and made available to the public.
But speaking on Channels Television on Monday, Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, warned that delaying the reforms could push up prices of basic goods and services, including food, healthcare and education, while keeping workers and small businesses overtaxed.
He said opposition to the reforms did not begin with the recent allegations of alterations to the laws, noting that calls for suspension had existed even before the controversy started.
Oyedele attributed much of the resistance to misinformation, stressing that decisions on whether to suspend or postpone the implementation of the laws lie with the National Assembly.
He warned that delaying the reforms would mean retaining the current tax regime, which he said placed a heavy burden on workers and small businesses.
According to him, the bottom 98 per cent of workers would remain overtaxed, while small businesses would continue to miss out on exemptions and face multiple taxes.
“I think I should also say that even before the alleged alteration issue came up, there were people calling for suspension and others saying no to the reform, for different reasons. The biggest issue we have had to deal with, and are still dealing with, is misinformation.
“Now, when you look at the legal provisions and who has the powers, even if we want to postpone the implementation of the law, that decision rests with the lawmakers. That is far beyond my pay grade, and I believe such a decision will be a function of what the findings from this investigation reveal.
“But just to make this very clear to Nigerians. What some people have done is to recruit unsuspecting Nigerians to fight a reform that is meant to benefit the generality of the people, mainly by creating fear,” he said.
Oyedele also said large firms would continue to deal with nuisance taxes, while minimum tax would still apply to low-income earners and unprofitable businesses.
He added that hidden value-added tax would keep pushing up the cost of basic goods and services such as food, healthcare and education.