The Senate, yesterday, put to rest the lingering doubts over Nigeria’s Tax Reform Acts, affirming that none of the four laws is adulterated.
Meanwhile, economist, accountant and public policy expert, Taiwo Oyedele, has revealed that President Bola Tinubu directed the country’s tax administrators to stop taxing poverty, capital, and seed, but to invest with the people, so the seed can turn into fruit.
Senate President Godswill Akpabio, speaking during plenary, assured lawmakers that the Acts, which were passed as separate bills by both chambers of the National Assembly in May 2025 and signed into law by President Bola Tinubu in June, remain intact and fully compliant with parliamentary proceedings.
Addressing concerns raised in some quarters that the Acts might have been altered, Akpabio emphasised that the certified copies in the Senate and the House of Representatives “are authentic”.
He instructed the Clerk of the Senate, Emmanuel Odo, to distribute certified copies of all four Acts to every senator for scrutiny.
“Copies of the Acts will be made available to all senators by the Clerk of the Senate,” Akpabio said. “The copies are completely in compliance with what transpired in both chambers. There is no adulteration. You can safely disregard any claims to the contrary, they do not reflect what the President signed, nor do they represent what we passed.”
The four Tax Reform Acts, signed into law by President Tinubu on June 26, 2025, included the Nigeria Tax Act (NTA), the Nigeria Tax Administration Act (NTAA), the Nigeria Revenue Service Act (NRSA) and the Joint Revenue Board Act (JRBA)
Together, the laws aim to comprehensively overhaul Nigeria’s tax system to stimulate economic growth, enhance revenue generation, improve the business environment, and strengthen effective tax administration at the federal, state, and local government levels.
The Senate’s declaration came amid circulating claims of discrepancies in the Acts, which lawmakers can now independently verify using the certified true copies provided.
Oyedele, who chairs the Presidential Committee on Fiscal Policy and Tax Reforms, made the disclosure in Abuja during a town hall meeting with artisans and traders organised by the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).
According to him, the President has instructed all stakeholders to work together to ensure the success of nano, micro, small, and medium-sized enterprises, rather than stifling them with multiple taxes.
“You cannot build a society where businesses are not allowed to breathe,” Oyedele said. “The secret to the success of any society is enabling its 35 million nano, micro, small and medium businesses to grow. Supporting MSMEs positively is essential because that is the real Nigeria.”
“The President directed that we should stop taxing poverty, capital, and seed. We should invest with the people so that the seed can turn into fruit,” he said.
Oyedele noted that most businesses in Nigeria operate at the nano level, expressing optimism that many could grow into billion-naira enterprises yearly if given the right support.
He also acknowledged growing public concerns about tax reforms, attributing them to misinformation. “There is a lot of negative misinformation about tax reform. Instead of excitement, people are afraid,” he said.