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No Cause For Panic: Tinubu Assures Nigerians Over New Tax Laws.
President Bola Ahmed Tinubu has assured Nigerians that the new tax regime slated to commence in 2026 is designed to reduce the financial burden on the poor, low-income earners and small businesses, urging citizens not to panic over the reforms.....KINDLY READ THE FULL STORY HERE▶
According to Nivo News, the President gave the assurance on Tuesday, December 16, during the 8th Annual Senator Abiola Ajimobi Roundtable and the 76th posthumous birthday lecture of the late former Oyo State Governor, held at the University of Ibadan. The event was organised by the Senator Abiola Ajimobi Foundation in partnership with the Institute of Peace and Strategic Studies of the university.
Tinubu’s message, delivered by the Executive Chairman of the Federal Inland Revenue Service, Zaccheus Adedeji, highlighted that the administration’s recent economic reforms, though initially challenging, were already yielding positive outcomes. The President noted that investor confidence had improved, with key macroeconomic indicators showing signs of recovery.
He stated that economic growth was strengthening, inflation was easing, and improvements were being recorded in the fiscal deficit. Tinubu added that companies previously operating at a loss had returned to profitability, alongside better capacity utilisation and rising investment levels.
The President explained that Nigerians would begin to feel greater relief in the coming year with the implementation of the new tax laws. He said the reforms would exempt essential sectors such as food, medication, education, agriculture and shared transportation from heavy taxation, while also eliminating multiple taxes imposed on businesses.
Tinubu further reassured citizens that the new tax laws carried positive implications for vulnerable groups and small enterprises, stressing that there was no reason for fear as the policy would provide significant relief for low-income earners and stimulate business growth.
Paying tribute to the late Abiola Ajimobi, the President described him as a leader who prioritised long-term development, even when such decisions came with short-term discomfort. He said Ajimobi believed leadership required making tough choices that ultimately advanced societal progress, and praised his wife, Ambassador-designate Florence Ajimobi, for sustaining the family’s legacy.
In his remarks, Tinubu urged leaders and members of the All Progressives Congress in Oyo State to unite ahead of the 2027 general elections, describing party unity as the most fitting honour to the late statesman’s memory.
Oyo State Governor, Seyi Makinde, represented by his deputy, Bayo Lawal, described the roundtable as a meaningful platform to honour Ajimobi’s legacy while addressing critical issues affecting Nigeria’s democracy. He said the former governor’s contributions to governance left lessons beyond partisan lines and emphasised that trust in democracy could only be rebuilt through accountability, sincerity and inclusive governance.
Delivering the lead paper, former Chief of Staff to ex-President Muhammadu Buhari, Prof Ibrahim Gambari, identified political party reform as central to democratic renewal in Nigeria. He listed voter apathy, weak internal party democracy, institutional deficiencies, electoral violence, insecurity and trust deficits as major challenges undermining electoral credibility.
Earlier, the President of the Senator Abiola Ajimobi Foundation, Florence Ajimobi, commended Tinubu for his continued support and loyalty to the late statesman, describing his consistent participation in the annual event as a reflection of shared values in good governance and democratic commitment. The event was attended by top government officials, traditional rulers, community leaders and students.
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