President Bola Tinubu says harmonised tax laws will boost the federal government’s capacity to fund infrastructure projects.
In his new year speech, Tinubu said 2026 marks a critical phase in implementing the country’s tax reforms, designed to build a fair, competitive, and robust fiscal foundation for Nigeria.
The president emphasised that the reforms are not about raising taxes, but about creating a structural reset, driving harmonisation and strengthening the social contract.
He said the new tax regime, which took effect today, is expected to increase revenue generation, improve the business environment and attract investment.
“A few days ago, I presented the 2026 Appropriation Bill to the National Assembly. In that address, I emphasised that our administration has implemented critical reforms that are laying a solid foundation for long-term stability and prosperity,” he said.
“With patience, fiscal discipline, and unity of purpose, Nigeria will emerge in 2026 stronger and better positioned for sustained growth.
“As inflation and interest rates moderate, we expect increased fiscal space for productive investment in infrastructure and human capital development.
“As inflation and interest rates moderate, we expect increased fiscal space for productive investment in infrastructure and human capital development.
“We are also confronting the challenge of multiple taxation across all tiers of government. I commend states that have aligned with the national tax harmonisation agenda by adopting harmonised tax laws to reduce the excessive burden of taxes, levies, and fees on our people and on basic consumption.
“The new year marks a critical phase in implementing our tax reforms, designed to build a fair, competitive, and robust fiscal foundation for Nigeria.
“By harmonising our tax system, we aim to raise revenue sustainably, address fiscal distortions and strengthen our capacity to finance infrastructure and social investments that will deliver shared prosperity
