Federal Government has suspended the issuance of implementation guidelines for the new tax laws due to lingering doubts about their final version, Taiwo Oyedele, Chairman of the Presidential Tax Reform Committee, disclosed on Wednesday.
Speaking in Lagos after delivering a keynote address on the 2026 Economic Outlook, organised by the Institute of Chartered Accountants of Nigeria (ICAN) under the theme ‘ICAN@60: Accountability as the Bedrock for National Development,’ Oyedele said he directed the Nigeria Revenue Service (NRS) and Joint Revenue Board (JRB) to hold off on guidelines.
He explained that his team purchased a printed copy from the government printer to verify authenticity, only to learn the National Assembly had seized all copies pending completion of its review. “The Acts Authentication Act says whatever the government printer publishes is the evidence of the law. But lawmakers said it’s not what they passed,” Oyedele stated.
Efforts by Ravenewsonline to reach Senate spokesman, Senator Yemi Adaramodu (APC, Ekiti South), and House of Representatives spokesman, Akin Rotimi, yielded no response, as calls went unanswered and messages unread.
Oyedele acknowledged legislative review as standard but stressed the access restriction reintroduces uncertainty. He instructed his staff to persistently follow up in person at the printer.
Oyedele dismissed allegations of significant alterations to the gazetted versions of the National Revenue Service (Establishment) Act, Joint Revenue Board of Nigeria (Establishment) Act, Nigeria Tax Administration Act, and Nigeria Tax Act, which took effect January 1.
He insisted minor discrepancies do not impact key elements like tax rates, burdens, or filing deadlines. In December, Rep. Abdussamad Dasuki (PDP, Sokoto) raised a privilege matter at the House plenary, highlighting differences between passed versions and gazetted copies after comparing them with Votes and Proceedings.
The House formed a seven-man probe committee, which reported by December 25. On January 3, the National Assembly released Certified True Copies (CTCs) affirming the original passed texts and rejecting the controversial gazettes.
Oyedele decried opposition to reforms, including paid protests and misinformation. “We’ve seen people paid N30 million to protest; the deal broke during sharing, and some spoke to media,” he revealed.
He cited a November 2025 incident where fake news triggered panic sales, wiping N4.6 trillion off the stock market despite exemptions for turnover up to N150 million annually. “That fake news led to real losses, even for pensioners via PFAs,” he warned.
Linking to the event theme, Oyedele called accountability the bridge from reforms to results, urging trust-building, knowledge-seeking, and execution focus.
Panelists advocated coordinated efforts. LCCI Director-General Dr. Chinyere Almona called for inter-agency engagement, technology, and centralised monitoring to resolve policy conflicts.
MAN Director-General Segun Ajayi-Kadir sought inclusive growth without hurting competitiveness, noting manufacturing’s sub-10% GDP share, sector challenges, and N2 trillion in unsold inventory.
Session chair Mohammed Hayatudeen described 2026 as a pivotal year post-2023/2024 turbulence, with stabilised inflation, exchange rates, and reserves, but persistent high poverty. He questioned if tax policy ambition matches administrative capacity.
ICAN President Mallam Haruna Nma Yahaya welcomed guests, emphasising accountability for economic stability amid fragile recovery. He highlighted 2025 gains: GDP growth over 4% in Q2, inflation easing to mid-14s, forex reserves at multi-year highs, trade surpluses, and PMI at 57.6.
Yet, he cautioned fragility without discipline. “Accountability is an economic imperative,” Yahaya said, citing global evidence on strong institutions, and urged practical solutions for governance.
