#StopThe2026TaxReform: Halt Implementation Now!
Integrity Crisis: Allegations of Legislative Forgery
The foundation of any democracy is that laws must be passed by the people's representatives. However, serious allegations have surfaced that the Nigeria Tax Act 2025 being implemented today, January 1, 2026, contains "illegal insertions" not present in the version passed by the National Assembly. We demand a suspension of these laws until the House of Representatives completes its investigation into these discrepancies. Implementing a disputed law undermines the rule of law and creates a dangerous precedent of "forgery as governance."
Cost of Living: Inflationary Pressure on Every Household
With inflation already straining the pockets of every Nigerian, the new tax regime threatens to trigger a fresh wave of price hikes. By increasing the VAT rate (targeted to reach 15%) and removing "Pioneer Status" incentives, the cost of production for essential goods will skyrocket. While the government promises exemptions for the poorest, the reality is that businesses will pass these new costs directly to consumers, making food, transport, and basic services even more unaffordable for the average family.
Investment Suffocation: Killing the Engine of Growth
The reform's decision to triple the Capital Gains Tax from 10% to 30% is a direct assault on investment. This policy penalizes those who invest in Nigerian stocks and assets, driving away both local and foreign investors at a time when we desperately need capital. Coupled with draconian penalties such as the ā¦100,000 fine for late filings the reform creates a hostile environment for the small and medium enterprises (SMEs) that employ millions. We should be driving productivity, not squeezing the life out of existing businesses.