President Bola Tinubu’s tax reforms, despite scepticism from some quarters, are receiving accolades from many Nigerians. The Independent Media and Policy Initiative (IMPI) has described the reforms as Tinubu’s most enduring legacy, with the potential to transform Nigeria’s economic landscape more than any policy deployment in a generation, if properly implemented.
Also, former governor of Ogun State, Gbenga Daniel, reiterated the effort and commitment of the present administration in setting a workable template for the country’s developmental progress.
On its part, the Methodist Church Nigeria called on the President to ensure the full implementation of the tax law. It also urged the Federal Government to prioritise economic reforms, strengthen national security and uphold democratic principles across the country.
IMPI Chairman, Dr Omoniyi Akinsiju, stated that the group’s conclusion was drawn after a thorough review of the Nigeria Tax Act (NTA) 2025.
“In the tradition of objective analysis, we have reviewed the new tax laws within the framework of policy contextuality, realism and pertinence. Our verdict is that the Tinubu-led administration has delivered a legacy set of fiscal policies capable of transforming the Nigerian economy more profoundly than any other policy in a generation,” the group’s statement reads.
According to IMPI, the four tax laws, the Nigeria Tax (Fair Taxation) Act, the Nigeria Tax Administration Act, the Nigeria Revenue Service (Establishment) Act, and the Joint Revenue Board (Establishment) Act, fulfil all the fiscal conditions necessary for accelerated and inclusive economic growth.
“With implementation set to begin in January 2026, Foreign Direct Investment (FDI) is expected to receive a significant boost,” it noted. “A major aspect of this is the adoption of the Minimum Effective Tax Rate (ETR) in the NTA 2025.”
Presently, large companies in Nigeria are taxed at 30 per cent of profit. Under the new ETR provision, multinational companies with global turnover exceeding €750 million or local turnover above ₦50 billion will be subject to a minimum tax of 15 per cent of net income. The goal is to prevent double taxation on dividends and unrealised gains or losses, a change expected to attract global capital inflows.
Speaking at the 4th Asiwaju of Remo Christian Choir Festival held at Abraham Tabernacle Ecumenical Worship Centre, Sagamu, Ogun State, Daniel, who represents Ogun East in the Senate, disclosed that local council administration was non-existent prior to the present administration; but that with local government autonomy and disbursement of more funds, the narrative changed.
According to him, people were sceptical about the establishment of the South-West Development Commission, but today the President has assented to the bill establishing it, noting that it is now a quasi-regional government.
He said: “What this means is that aside from the federal, the state and the local government, we now have a quasi-regional government. When you look at what the late Obafemi Awolowo did when we had regional government, then you can begin to appreciate the strategic direction of the President.
The call from the Methodist Church was contained in a communiqué issued at the end of the Church’s 42nd Council of Bishops, held at the Cathedral of Unity, Wuse Zone 3, Abuja, from June 30 to July 7, 2025.
The communiqué was read by His Eminence, Dr Oliver Ali Aba, Prelate of the Methodist Church Nigeria and Chairman of the Council of Bishops. It was jointly signed by the Secretary of Conference, Dr Babatunde Taiwo, and the Prelate.
While acknowledging initiatives aimed at empowering youth and vulnerable groups, the bishops noted that many Nigerians continue to face severe economic challenges due to soaring inflation and unfavourable economic trends.
They, however, urged the government to take decisive steps to alleviate economic hardship and promote national stability.
