President Bola Tinubu has assured Nigerians that the new tax laws, which will take effect in January 2026, are designed to expand the tax base and provide relief for low-income workers, not increase the burden on existing taxpayers.
Speaking during his address to the nation as Nigeria marked its 65th Independence Anniversary on Wednesday, the President said the country’s tax-to-GDP ratio has improved to 13.5 percent from less than 10 percent and is expected to rise further when the new laws are implemented.
“The tax law is not about increasing the burden on existing taxpayers but about expanding the base to build the Nigeria we deserve and providing tax relief to low-income earners,” Tinubu stated.
Temporary Pain, Long-Term Gains
Acknowledging the economic challenges caused by his administration’s reforms, the President admitted that inflation and rising living costs remain serious concerns but insisted that bankruptcy was never an option when he assumed office in 2023.
“Our macro-economic progress has proven that our sacrifices have not been in vain. Together, we are laying a new foundation cast in concrete, not on quicksand,” he said, adding that the government is focused on translating savings and stability into tangible progress in food security, education, electricity, and community safety.
Call to Action
Tinubu urged Nigerians to embrace productivity, innovation, and local enterprise, while also paying their taxes.
“Let us be a nation of producers, not just consumers. Let us farm our land and build factories to process our produce. Let us patronise ‘Made-in-Nigeria’ goods. I say Nigeria first. Let us pay our taxes,” he declared.
The President concluded his message with words of hope, noting that governors and local government autonomy are already driving more development across the federation.
