NECA hails FG on new Tax Laws, calls for smooth rollout in 2026
As Nigerians anticipate the new tax law, the Nigeria Employers’ Consultative Association (NECA) has thrown its weight behind the Federal Government’s decision to implement the new laws from January 1, 2026, describing the reforms as critical to economic stability and long-term growth.
NECA’s Director-General, Mr. Wale Smatt-Oyerinde, made the association’s position known on Tuesday during a media parley in Lagos, saying the country could no longer afford the inconsistencies that have characterised its tax system over the years.
He commended the Presidential Committee on Fiscal Policy and Tax Reforms for what he described as “tremendous work” in engaging stakeholders nationwide, despite what he called deliberate attempts to misinform the public about the committee’s intentions.
Smatt-Oyerinde, however, urged the Federal Inland Revenue Service (FIRS) to intensify collaboration with the organised private sector to deepen public awareness and understanding of the new tax laws ahead of their commencement date.
Expressing satisfaction with the depth of consultations around the reforms, the NECA boss described the tax legislation as “a significant national issue that has witnessed the most organised chaos in Nigeria’s political history.”
He insisted that the concerns raised by the National Assembly regarding possible alterations were not strong enough to warrant halting implementation, given the broader economic objectives of the reforms.
“We cannot continue to run the system the way it was run with a lot of inconsistencies. No law is perfect, and that’s why provisions are made for amendments,” Smatt-Oyerinde said. “As we proceed, we can make necessary amendments, and by doing so, we are building an institution.”
According to him, the tax laws are designed to create a more conducive and productive business environment, stimulate private sector growth and generate jobs that would address the root causes of insecurity across the country.
He argued that the strong resistance faced by the reforms was itself an indication that vested interests were opposed to the growth and restructuring of the Nigerian economy.
“I have never seen a regulation or legislation that witnessed this kind of engagement or antagonism,” he said. “Once you have human beings superintending any process, no matter how beautiful, there will always be efforts to sabotage it.”
On the recent ban on sachet alcoholic drinks by the National Agency for Food and Drug Administration and Control (NAFDAC), Smatt-Oyerinde warned that a blanket ban could worsen the problem by encouraging smuggling through Nigeria’s numerous unmanned borders.
He noted that the policy could lead to massive job losses and capital flight, stressing that prohibition alone was not a sustainable solution to public health or regulatory concerns.
“Banning sachet drinks poses a serious threat to the economy. Government needs to engage more with stakeholders—business owners and consumers—to arrive at solutions that are win-win for everyone,” he said.
Reflecting on the past year, the NECA Director-General described 2025 as “pretty eventful,” noting that the association worked closely with several government agencies to make the business environment more hospitable, while acknowledging that recent reforms had helped to stabilise the macroeconomy.
He expressed optimism that these gains would translate into improved living conditions in 2026, adding that NECA would continue engaging government, organised labour and regulators on issues such as the controversial N25 million annual levy for Public Interest Entities to ensure regulatory fairness and sustained investor confidence.
