The Federal Government has reassured Nigerians and investors that the implementation of the new tax acts will be carried out with fairness, transparency, and what officials describe as a “human face.”
Mr. Joseph Tegbe, Chairman of the National Tax Policy Implementation Committee (NTPIC), gave the assurance shortly after the committee was inaugurated in Abuja on Friday by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun.
Tegbe told journalists that the government does not intend in any way to breach the rights or privacy of citizens in the enforcement of the new laws. “Government is not going to encroach into their personal accounts. Nigerians are not under probe or investigation,” he said.
He restated that government has no business irresponsibly encroaching on personal bank accounts of citizens or residents of Nigeria, adding that concerns about possible disruptions or adverse effects on the economy as the January 1 commencement date approaches were being taken seriously.
According to him, “We would not implement anything that is going to be destructive to the economy. There will be no surprises. Some of those areas of concerns will be addressed. The systems that we are building will respect legitimate expectations, reduce uncertainty, and protect the most vulnerable.”
Tegbe explained that the committee was designed to operate through broad consultation and collaboration across key sectors. “The committee inaugurated has been set up to ensure broad and meaningful consultation and collaboration. We want to ensure that all stakeholders are aware and have fair buy-in and ownership of whatever they implement,” he said.
He noted that discussions will extend to businesses, subnational governments, civil society organisations, and professional bodies to ensure a shared understanding of the reforms and their implications.
On concerns over some provisions of the tax laws, Tegbe said the administration was committed to resolving them. “This government is a humane government, and this government will work actively to build stakeholders to ensure that areas that need further clarification and further resolutions are addressed,” he added.
One of the most sensitive concerns involves the capital gains tax (CGT), which recently unsettled the capital market. Tegbe acknowledged the controversy, describing it as one of the priority areas for review. “The capital gains tax issue almost crashed the stock market when some statements were made. It took the intervention of the Minister of Finance for the stock market to bounce back. We will look at that,” he said.
Beyond CGT, Tegbe said other areas—such as the pioneer status provisions under the old Export Development Incentives (EDI) framework—will also be reviewed. “There are some other areas that people are concerned with. Like the area in the past, the whole pioneer status, which is EDI. We would look at it,” he said.
He indicated that certain provisions may not take effect immediately. “In as much as we are going ahead with January 1, there might be some provisions that we will need to take a second look at before then. In some areas, status quo might remain while we consult.”
Tegbe said the tax reforms were not solely about revenue. “Sometimes taxes are about creating the right environment for investment. Under the Act, it’s not all about taxes and duties, there are incentives. And that’s what’s most important for us—those incentives that will encourage investment, both foreign and local.”
He described the implementation programme as one of the most significant policy undertakings of the Tinubu administration, saying the goal is to strengthen the fiscal system while safeguarding economic stability. “If well executed—and we intend for that to happen—Nigerians will experience improved revenue mobilization, reduced leakages, and a more stable and competitive economic environment. We will work with everybody to ensure that that partnership with stakeholders happens in implementing these long-term reforms.”
Tegbe also drew attention to the Nigerian Revenue Service (NRS) provisions in the new act, saying several elements were designed to strengthen institutions and benefit citizens, stressing President Bola Tinubu’s commitment to protecting low-income earners. “One of the objectives of Mr. President is to ensure that Nigerians who are earning lower income are exempted from tax as much as possible. And you see that the band of application of tax later has been improved. We will not lose that benefit.”
He maintained that implementation would proceed side-by-side with adjustments where necessary. “As you are implementing, you are learning, you are refining. There are clear areas that we have identified. This is a very sensitive government. It’s a responsive government and a responsible government.”
The chairman stated that structures would be deployed to ensure that concerns are carefully managed and that the reforms proceed in a manner that supports economic growth and investor confidence.
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