The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Prof. Taiwo Oyedele, has clarified that President Bola Tinubu’s administration has not introduced any new taxes in the past two years. Speaking to journalists in Abuja on Wednesday, Oyedele explained that recent tax measures, including the fuel surcharge and other levies, were not new but had existed in previous legislation, stressing that the taxes being implemented are designed to provide for posterity, not to punish Nigerians.

He further clarified that while new tax reform laws are set to take effect on January 1st, 2026, the proposed fuel levy, widely referred to as the “surcharge,” will not begin automatically with the reforms.

Despite negative impressions surrounding the new tax policy, Oyedele assured Nigerians that they will benefit from the reforms in coming years, adding that the new tax reforms aims to Consolidate Nigeria’s fragmented tax laws into a harmonized statute, Ease Business Operations, as well as Support Small Businesses, Exempting small companies with annual turnovers not exceeding N100 million and fixed assets below N250 million from corporate tax.

Oyedele also highlighted the importance of transparency and accountability in tax administration, urging Nigerians to read and understand the new tax laws.

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