Implementing the new tax laws will begin on January 1, 2026, but will be rolled out responsibly and with humanity, according to Joseph Tegbe, the chairman of Nigeria’s newly formed National Tax Policy Implementation Committee (NTPIC). He spoke in Abuja yesterday after the Finance Minister and Coordinating Minister of the Economy, Wale Edun, inaugurated the committee.
Tegbe emphasized that his team will conduct broad consultations with business groups, professional associations, civil society, subnational governments, and other stakeholders to ensure a smooth rollout. He asserted that the changes will not harm businesses; instead, they are designed to incentivize growth and attract more local and foreign investment. He described the work ahead as large in scope but essential for national progress, noting that the reforms touch the core of tax administration, align federal and state interpretations, and simplify doing business. He pledged that the implementation would be fair, transparent, and carried out with a humane approach.
Addressing concerns, Tegbe promised there would be no surprises and that potential issue areas would be addressed. The systems being built aim to meet legitimate expectations, reduce uncertainty, and protect the most vulnerable. The committee’s mandate is to facilitate broad, meaningful consultation and collaboration, ensuring that all stakeholders are informed, engaged, and have a sense of ownership over the reforms.
Tegbe stressed that there will be no personal-bank-account intrusions by the government—the state has no reason to probe Nigerians’ private finances. He assured that personal accounts will not be encroached upon as part of tax administration.
Regarding specific concerns, the Capital Gains Tax (CGT) was highlighted as a topic needing careful handling. He acknowledged that concerns have been raised and that a humane government will work with stakeholders to clarify and resolve them. While moving forward with January 1, there may be provisions that require reexamination to ensure responsible and humane implementation.
Tegbe defended the decision to pursue broader consultation on CGT, noting that controversial statements about CGT nearly destabilized the stock market and required ministerial intervention for stabilization. He indicated that some aspects of policy might retain the status quo during this refinement phase, with the possibility of adjustments that could ultimately yield greater benefits. In short, implementation will involve ongoing evaluation and refinements to balance immediate needs with long-term gains.
