President Bola Ahmed Tinubu said the harmonised tax laws will strengthen the finances of the federal government’s to fund infrastructure and other National developmental programs.
He made this known during his new year speech, Tinubu said 2026 marks a critical phase in implementing the country’s tax reforms, designed to build a fair, competitive, and robust fiscal foundation for Nigeria.
Tinubu further emphasised that the reforms are not about raising taxes, but about creating a structural reset, driving harmonisation and strengthening the social contract.
He announced that the new tax legislation, effective as of today, is anticipated to elevate revenue streams, optimize the business environment, and stimulate capital investment.
“A few days ago, I presented the 2026 Appropriation Bill to the National Assembly. In that address, I emphasised that our administration has implemented critical reforms that are laying a solid foundation for long-term stability and prosperity,” he said.
“With patience, fiscal discipline, and unity of purpose, Nigeria will emerge in 2026 stronger and better positioned for sustained growth.
However, as inflation and interest rates stabilize, we anticipate greater budgetary latitude to drive high-impact investments in infrastructure and human capital.
“We are also confronting the challenge of multiple taxation across all tiers of government. I commend states that have aligned with the national tax harmonisation agenda by adopting harmonised tax laws to reduce the excessive burden of taxes, levies, and fees on our people and on basic consumption.
Today begins the full implementation of our tax overhaul—a once-in-a-generation opportunity to foster a fairer, more competitive, and robust fiscal system for Nigeria.
“By harmonising our tax system, we aim to raise revenue sustainably, address fiscal distortions and strengthen our capacity to finance infrastructure and social investments that will deliver shared prosperity.”
