President Bola Ahmed Tinubu has reassured Nigerians that the new tax law scheduled to take effect in 2026 will bring positive benefits, particularly for the poor, low-income earners and small businesses.
Speaking on Tuesday at the 8th Annual Senator Abiola Ajimobi Roundtable and the 76th posthumous birthday lecture for the late former Oyo State governor at the University of Ibadan, Tinubu urged Nigerians not to be concerned about the incoming tax changes, describing them as part of broader economic reforms by his administration aimed at revitalising the economy, with early indications already showing improvement.
According to Tinubu’s message—delivered through the Executive Chairman of the Federal Inland Revenue Service, Zaccheus Adedeji—the economy is beginning to respond positively to new policies.
The president noted that Nigerians would start experiencing the impact of these reforms more clearly next year, with the new tax laws offering significant relief by exempting or reducing taxes on essential areas such as food, medication, education, agriculture and shared transportation.
Tinubu stressed that there should be no apprehension about the tax laws, describing them as “good news” for vulnerable groups and small-scale enterprises across the country.
At the event, he also urged members of the All Progressives Congress (APC) in Oyo State to close ranks ahead of the 2027 elections, while paying tribute to the legacy and contributions of the late Senator Abiola Ajimobi.
