Experts Urge Stronger Agency Cooperation as FG Suspends New Tax Law Guidelines

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Nigeria’s ongoing tax reform drive has entered a delicate phase, with experts urging stronger collaboration among public institutions even as the Federal Government temporarily suspends the release of implementation guidelines for newly enacted tax laws.

At the 2026 Economic Outlook hosted by the Institute of Chartered Accountants of Nigeria (ICAN), policy analysts and industry leaders converged to assess the state of the economy and the future of fiscal reforms. A recurring theme throughout the discussions was the need for seamless coordination across ministries, agencies, and regulatory bodies.

Dr. Chinyere Almona, Director-General of the Lagos Chamber of Commerce and Industry, emphasized that inter-agency friction has historically undermined well-intentioned policies. She advocated for integrated, technology-driven monitoring systems to eliminate duplication and ensure that reforms are executed uniformly across institutions.

From the manufacturing sector’s perspective, Segun Ajayi-Kadir, Director-General of the Manufacturers Association of Nigeria, stressed that tax policy must balance revenue generation with industrial competitiveness. He noted that manufacturing still contributes less than 10% to Nigeria’s GDP and highlighted the challenge of nearly ₦2 trillion worth of unsold goods — a signal, he argued, of deeper structural bottlenecks.

Chairing the session, Mohammed Hayatudeen described Nigeria as standing at a pivotal juncture. While reforms implemented between 2023 and 2024 initially triggered volatility, he observed that certain macroeconomic indicators stabilized in 2025. Inflation moderated, foreign exchange markets steadied, and external earnings improved. Yet he cautioned that poverty remains widespread, warning that legislation alone cannot deliver prosperity without administrative efficiency and capable institutions.

ICAN President Mallam Haruna Nma Yahaya echoed the accountability message in his opening remarks. He pointed to encouraging signs in 2025 — including GDP growth surpassing 4% in the second quarter, easing inflation into the mid-14% range, stronger foreign reserves, and a Purchasing Managers’ Index reading of 57.6 — as evidence of recovery. However, he stressed that transparency and institutional discipline must underpin reforms to sustain progress. As he put it, accountability is not merely aspirational but economically essential.

Federal Government Halts Guideline Release

The reform process faced a setback when Taiwo Oyedele, Chairman of the Presidential Tax Reform Committee, announced a pause in issuing implementation guidelines. Speaking during a question-and-answer session, he explained that uncertainty over the authenticity of circulating versions of the new tax laws prompted the decision.

Oyedele directed the Nigeria Revenue Service and the Joint Revenue Board to refrain from publishing guidance until clarity is achieved. According to him, concerns arose about whether the documents in circulation accurately reflected the laws as passed. Efforts to obtain certified printed copies from the government printer were unsuccessful, reportedly because the National Assembly had retrieved them pending further review.

Legislative Scrutiny and Public Controversy

The four new tax statutes — covering revenue service establishment, tax administration, and governance frameworks — officially took effect on January 1. However, controversy followed claims that the gazetted texts differed from the versions approved by lawmakers.

During plenary, a member of the House of Representatives raised alarms about discrepancies between debated drafts and published documents. A seven-member investigative committee was subsequently constituted, and Certified True Copies were later released to clarify the situation.

Despite the dispute, Oyedele maintained that any detected variations would not alter core elements such as tax rates, filing obligations, or overall taxpayer burden. He also expressed concern over what he described as coordinated misinformation campaigns, citing an instance in November 2025 when market panic reportedly wiped ₦4.6 trillion off the stock exchange in a single day.

He further questioned why micro and small-scale traders were alarmed, noting that individuals with annual sales below ₦150 million are exempt under the new regime.

Analysis: Reform, Resistance, and Responsibility

The unfolding developments highlight the complexity of implementing structural reforms in a diverse and politically sensitive environment. While economic indicators suggest stabilization, execution remains the decisive factor.

Inter-agency coordination, legislative clarity, and transparent communication are emerging as critical pillars of success. The temporary suspension of guidelines underscores how even minor uncertainties can ripple across markets and institutions.

As Nigeria navigates this reform phase, the central challenge appears less about policy design and more about governance capacity. Without strong institutional alignment and public trust, ambitious reforms risk being derailed by confusion or resistance.

Ultimately, the 2026 outlook suggests cautious optimism — provided accountability and collaboration remain at the forefront of economic management.