The federal government has moved to assure Nigerians and investors that the rollout of the new tax acts will be done with fairness, transparency, and what officials call a human face. This assurance came from the Chairman of the National Tax Policy Implementation Committee, Mr Joseph Tegbe, shortly after the committee was inaugurated in Abuja by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun.
Speaking to journalists after the event, Tegbe said there was no intention by government to breach the rights or privacy of citizens in enforcing the new laws. “Government is not going to encroach on their personal accounts. Nigerians are not under probe or investigation,” he stated. He stressed again that “this government has no business irresponsibly encroaching on personal bank accounts of citizens or its residents in Nigeria.”
He noted that worries about disruptions or negative impacts on the economy as the January 1 commencement date approaches were being taken seriously by authorities. According to him, “We would not implement anything that is going to be destructive to the economy. There will be no surprises. Some of those areas of concern will be addressed. The systems that we are building will respect legitimate expectations, reduce uncertainty, and protect the most vulnerable.”
Tegbe explained that the committee would operate through wide consultation and collaboration across sectors to ensure that decisions are shared and not imposed. “The committee has been set up to ensure broad and meaningful consultation and collaboration. We want to ensure that all stakeholders are aware and have fair buy-in and ownership of whatever they implement,” he said. He added that discussions would cut across businesses, subnational governments, civil society organisations, and professional bodies to encourage shared understanding of reforms and their implications.
He also addressed public concerns about parts of the tax laws, saying the administration was committed to resolving them in a responsible way. “This government is a humane government, and this government will work actively to build stakeholders to ensure that areas that need further clarification and further resolutions are addressed,” he said.
A major worry for stakeholders is the capital gains tax issue, which unsettled the capital market recently. Tegbe acknowledged this concern, calling it one of the priority areas for review. “The capital gains tax issue almost crashed the stock market when some statements were made. It took the intervention of the Minister of Finance for the stock market to bounce back. We will look at that,” he said.
He hinted that not all parts of the new laws may start immediately. “Inasmuch as we are going ahead with January 1, there might be some provisions that we will need to take a second look at before then. In some areas, the status quo might remain while we consult,” he revealed.
According to him, the tax reforms are not just about revenue generation. He explained that “sometimes taxes are about creating the right environment for investment. Under the Act, it’s not all about taxes and duties; there are incentives. And that’s what’s most important for us—those incentives that will encourage investment, both foreign and local.”
The implementation programme was described as one of the most significant policy efforts of the Tinubu administration, focused on strengthening the fiscal system while protecting economic stability. “If well executed—and we intend for that to happen—Nigerians will experience improved revenue mobilization, reduced leakages, and a more stable and competitive economic environment. We will work with everybody to ensure that the partnership with stakeholders happens in implementing these long-term reforms,” Tegbe stated.
He also highlighted provisions relating to the Nigerian Revenue Service included in the new act, saying several parts were meant to strengthen institutions and benefit citizens. Tegbe pointed out President Bola Tinubu’s focus on safeguarding low income earners. “One of the objectives of Mr. President is to ensure that Nigerians who are earning a lower income are exempted from tax as much as possible. And you see that the band of application of tax has been improved. We will not lose that benefit,” he said.
He added that implementation would continue while adjustments are made based on lessons learned. “As you are implementing, you are learning, you are refining. There are clear areas that we have identified. This is a very sensitive government. It’s a responsive government and a responsible government,” he said.
Beyond capital gains tax concerns, Tegbe mentioned that other areas, including pioneer status provisions under the old Export Development Incentives framework, would also be revisited. “There are some other areas that people are concerned with. Like the area in the past, the whole pioneer status, which is EDI. We would look at it,” he added.
He assured that relevant structures would be deployed to manage concerns, maintain confidence, and support reforms in ways that help growth and attract investment.
