Senate leader says new tax law aims to help Nigerians, not harm them
The Leader of the Senate, Opeyemi Bamidele, has clarified that the newly enacted tax laws are not intended to cause economic hardship for Nigerians. He emphasized that the legislation is designed to strengthen the country’s fiscal base and improve living standards. Bamidele highlighted that the law was passed after extensive consultations with stakeholders and is meant to harmonise the tax system. President Bola Tinubu also reaffirmed the government’s commitment to implementing the new tax laws as planned.
What we know
- Opeyemi Bamidele stated that the new tax law is a people-centred intervention, not a punitive measure.
- The Senate and National Assembly worked closely with other arms of government while maintaining their independence.
- Significant milestones were achieved in the 2025 financial year, including the enactment of a new tax regime and reforms to the electoral system.
- The 2025 Tax Reforms Act aims to harmonise Nigeria’s tax system and eliminate multiple taxation from January 1, 2026.
- President Bola Tinubu confirmed that the implementation of the new tax laws, including those enacted on June 26, 2025, and others set for January 1, 2026, would proceed as planned.
