President Bola Tinubu has assured Nigerians that the new tax laws, taking effect in January 2026, will not increase burdens on existing taxpayers but will expand the tax base and provide relief for low-income earners. He noted that Nigeria’s tax-to-GDP ratio has already risen to 13.5% from below 10% and is expected to grow further with the new regime.
The President admitted that his administration’s reforms, including subsidy removal and exchange rate adjustments, have caused “temporary pain” through inflation and rising living costs, but stressed that they were necessary to prevent economic collapse. He promised that savings from reforms would be channelled into food security, education, electricity, and community safety.
Marking Nigeria’s 65th Independence Day, Tinubu called for patriotism, urging citizens to support reforms, pay taxes, and patronise locally made goods, saying Nigeria must become a nation of producers rather than consumers.
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