By Onyeanya Ebere Immaculata
Former presidential candidate Peter Obi has urged the Federal Government to suspend the implementation of Nigeria’s new tax laws, citing serious errors, inconsistencies, and gaps that could harm businesses and taxpayers.
In a statement on his X account on Tuesday, Obi referenced a KPMG Nigeria report highlighting 31 critical issues, including the taxation of shares, dividend treatment, obligations of non-resident entities, and foreign exchange deductions. He warned that the complexity of the laws could confuse even experts and stressed that Nigerians were not adequately consulted before the reforms were enacted.
Obi criticised the government’s rush to enforce the laws, pointing to rising food and transport costs, shrinking purchasing power, and growing poverty as evidence that citizens have yet to see relief from the removal of fuel subsidies. He described the tax regime as inconsistent and poorly conceived, arguing that unclear taxes erode public trust.
Obi called on the government to prioritise dialogue, clear communication, and national consensus to ensure meaningful reform and sustainable economic growth.
Meanwhile, Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, dismissed much of the KPMG report, saying the concerns stemmed from misunderstandings of policy objectives, though he acknowledged some points were valid.
