Bola Tinubu tax reforms hailed by Yakubu Dogara as Nigeria’s boldest economic reset in decades, predicting historic impact
Bola Tinubu tax reforms have been described as the most ambitious overhaul of Nigeria’s fiscal structure in decades, with former House Speaker Yakubu Dogara predicting they will cement the President’s place in history as the country’s most consequential economic reformer.
Also read: ADC Slams 5% Petrol Tax, Calls Policy “Deeply Unfair” to Nigerians
Dogara gave the endorsement during the maiden Distinguished Parliamentarian Lecture, hosted at the National Assembly by the House of Representatives Press Corps on Tuesday.
His lecture, titled “Navigating Tax Reform in Nigeria: Insights on President Tinubu’s Policies,” focused on the scope and long-term impact of the 2025 Nigeria Tax Act and related legislation.
According to Dogara, Tinubu inherited an economy burdened with “economic debris”—including N22.7 trillion in Ways and Means overdrafts, opaque forex regimes, and forward crude sales mortgaged against foreign loans.
“Some anointed people were making hundreds of millions off forex allocations without producing a single good or service,” Dogara noted.
“From day one, it was clear that something revolutionary had to be done.”
The sweeping Bola Tinubu tax reforms, scheduled to take effect from January 2026, consolidate 16 federal tax laws into four core legislations: the Nigeria Tax Act, Nigeria Tax Administration Act, Nigeria Revenue Service (Establishment) Act, and the Joint Revenue Board (Establishment) Act.
Designed in line with the recommendations of the Presidential Committee on Fiscal Policy and Tax Reform chaired by Taiwo Oyedele, the laws aim to simplify the tax system, promote fairness, and improve compliance.
Dogara praised several pro-poor provisions, such as:
- Income tax exemption for those earning ₦800,000 or less annually
- Tax waivers for small firms with turnover under ₦100 million
- Rent relief for salary earners
- Clarification that the 5% fuel surcharge stems from the 2007 FERMA Act, not a new tax
He called the reforms a “legacy project” with the potential to drive generational change—”raising not just revenue, but trust.”
Dogara added that the true success of the reforms depends on transparency and how well the government deploys public funds into infrastructure, health, and education.
While largely supportive, Dogara did warn of hurdles, including digital readiness, legal interpretation challenges, and compliance costs.
Speaker Tajudeen Abbas, represented by House Spokesperson Akin Rotimi, described the legislation as a milestone for Nigeria’s economic restructuring.
“This is one of the most decisive steps towards fairness, efficiency, and sustainable growth,” he said.
Other participants—including representatives from the Federal Inland Revenue Service, civil society, and the Nigeria Union of Journalists—backed the reforms but stressed the need for clear communication to rebuild public trust in government spending.
The House Press Corps Chair, Gboyega Onadiran, said the lecture series was introduced to clarify policy for Nigerians and promote informed dialogue.
Committee Chair Philip Nyiam added that it signals a new era of “agenda-setting journalism” that goes beyond reporting to shaping national development.
Also read: Tinubu Orders Stablecoin Regulation to Avert Risks
As debate continues across sectors, the Bola Tinubu tax reforms remain a defining policy initiative—hailed by supporters as courageous and overdue, while others await proof of its real-world impact.
