FG Halts Tax Guidelines As Experts Urge Enhanced Government Collaboration

Experts have urged enhanced collaboration among government agencies following the Federal Government’s suspension of guidelines for the implementation of newly enacted tax laws. The call was made during the 2026 Economic Outlook event hosted by the Institute of Chartered Accountants of Nigeria (ICAN), where industry leaders stressed that inter-agency cooperation is vital to achieving effective policy outcomes.

Dr. Chinyere Almona, Director-General of the Lagos Chamber of Commerce and Industry, highlighted that weak coordination between government institutions has often hindered policy execution. She advocated for the use of technology and a centralized monitoring system to ensure seamless implementation of tax reforms. Similarly, Segun Ajayi-Kadir, Director-General of the Manufacturers Association of Nigeria, called for tax policies that foster inclusive growth while maintaining competitiveness, noting that the manufacturing sector’s contribution to GDP remains below 10 per cent. He also warned that unsold inventory in the sector has reached about ₦2 trillion, attributing this to multiple operational challenges.

Mohammed Hayatudeen, chairman of the session, described Nigeria’s current economic position as delicate yet pivotal. While he acknowledged signs of stabilization—moderating inflation, a steadier exchange rate, and strengthened external revenues—he cautioned that persistent high poverty levels and weak implementation capacity could undermine reform efforts.

ICAN President, Mallam Haruna Nma Yahaya, emphasized that accountability is essential for economic stability and long-term development. He noted improvements in GDP growth, inflation control, foreign exchange reserves, trade balances, and business confidence in 2025 but stressed that progress remains fragile without discipline and transparency.

Meanwhile, the Federal Government has suspended the issuance of guidelines for the new tax laws due to uncertainties over the final versions. Chairman of the Presidential Tax Reform Committee, Taiwo Oyedele, explained that discrepancies between gazetted and approved versions of the laws have raised questions about their authenticity. Efforts to obtain official printed copies from the government printer were initially unsuccessful, as the National Assembly retained all copies for review.

The four tax laws in question—the National Revenue Service (Establishment) Act, the Joint Revenue Board of Nigeria (Establishment) Act, the Nigeria Tax Administration Act, and the Nigeria Tax Act—took effect on January 1. Controversy arose over alleged differences between the gazetted versions and what was passed by the National Assembly, prompting a House investigation and the release of certified true copies. Oyedele assured that the discrepancies do not affect core provisions such as tax rates, burdens, or filing deadlines.

Oyedele also highlighted the role of misinformation and resistance in undermining reform efforts, citing instances where Nigerians were reportedly paid to protest the reforms and where market panic caused significant stock losses. He concluded that accountability remains the critical link between policy reform and tangible results.