The Special Adviser to President Bola Tinubu on Information and Strategy, Bayo Onanuga, has defended the federal government’s decision to proceed with the planned implementation of the new tax laws despite the controversies surrounding it.
He submitted that the Tax Act, which takes effect on January 1, 2026, should proceed as planned.
The presidential spokesperson explained that leaving the new tax laws unimplemented would leave many Nigerians and small businesses overtaxed.
He also urged those against the implementation to listen to the clarification provided by the Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele.
Taking to his 𝕏 account on Wednesday, Onanuga wrote: “Those calling for the suspension of the Tax Act, which goes into effect in a week’s time, should listen to Taiwo Oyedele. As he asked, do they want a sustenance of the status quo when the poor Nigerians and small businesses are overtaxed?”
Naijaonpoint recalls that controversies have trailed the anticipated implementation of the new tax laws following allegations that the gazetted law by the executive is different from the version passed by the National Assembly.
Some stakeholders, including former Vice President Atiku Abubakar and former Labour Party presidential candidate, Peter Obi, have called for a suspension of the planned implementation of the tax laws until all areas of concern are addressed.
However, Oyedele, who spoke on Monday on Channels Television’s The Morning Brief, explained that if the new tax laws are not implemented by January 1, 2026, the bottom 98 per cent of workers will suffer the brunt as they will remain overtaxed.
He added that workers will suffer multiple taxations, businesses will miss out on tax exemptions, and small unprofitable businesses will continue to pay unnecessary taxes, while the VAT on food items will remain, and continue to push up the prices of basic household items.