In an update published by Daily Post, the Nigerian Presidency has dismissed claims made by former Transportation Minister Rotimi Amaechi regarding a purported plan to implement a 25% tax increase following the next general election. Presidential spokesperson Bayo Onanuga labeled the allegations as “egregious lies” intended to incite public fear and create political instability. The government insists there are no such provisions in the current or proposed tax laws.
The controversy erupted after a viral video showed the former minister warning citizens that an APC victory would lead to a significant tax burden on business transactions and rent. Amaechi had suggested that the government was delaying the implementation of these taxes to avoid voter backlash, urging the public to verify the “new tax law” with legal experts.
In its rebuttal, the Presidency clarified that the ongoing tax reforms are focused on simplification and efficiency rather than arbitrary increases. The administration reiterated its commitment to creating a business-friendly environment and cautioned political actors against spreading misinformation that could disrupt the economy.
The Nation corroborated the Presidency’s stance, noting that the Federal Ministry of Finance has no such 25% levy in its 2026 projections. A legal expert quoted in ThisDay stated, “There is no legislative record of a post-dated tax law of this magnitude; such claims appear to be purely speculative.” Additionally, Channels TV reported that the viral video has sparked intense debate on social media, with one analyst noting, “Political rhetoric regarding taxation must be grounded in documented policy to avoid unnecessary market panic.”
Echotitbits take: This exchange highlights the heightening political tension as the 2027 election cycle begins to loom. Expect taxation to remain a central, albeit contentious, campaign issue as both sides scramble to define the economic narrative.
Source: Vanguard – https://www.vanguardngr.com/2026/01/presidency-rebuts-kpmgs-claims-on-new-tax-laws-defends-reform-choices-2/, and February 15, 2026
Photo credit: Vanguard
Tag: Nigeria taxation
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Presidency Rebuts Allegations of Looming 25% Post-Election Tax Hike
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Nigeria’s revenue agency rebrands as Nigeria Revenue Service, unveils new logo
2026-01-01 07:05:00
According to Punch, Nigeria’s former Federal Inland Revenue Service has formally transitioned to the Nigeria Revenue Service (NRS) and unveiled a new corporate identity as part of a wider revenue-administration overhaul.The agency’s leadership framed the change as more than a cosmetic update—positioning it as a unified, service-focused revenue authority aligned with Nigeria’s economic transformation agenda.
The rollout is linked to the legal framework establishing the NRS, with expectations of improved efficiency, transparency and taxpayer-facing service upgrades.
The Guardian Nigeria also described the rebrand as “an important milestone in the evolution of Nigeria’s revenue administration framework.”
Leadership similarly reported the agency “unveils official logo” as it transmutes into the NRS.
Echotitbits take:
The real test isn’t branding—it’s delivery. Watch for clearer taxpayer guidance, faster dispute resolution, smarter digital enforcement, and proof that reforms expand the tax net without punishing already-compliant businesses.
Source: The Punch — January 1, 2026 (https://punchng.com/nigeria-revenue-service-replaces-firs-unveils-new-logo/)
The Punch 2026-01-01
Photo Credit: The Punch
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FAAC review flags weak responses from firms in road tax credit scrutiny
2025-12-29 09:00:00
In an update published by Punch, FAAC’s post-mortem sub-committee reviewing the Road Infrastructure Tax Credit Scheme reportedly received responses from only three of seven companies contacted, raising fresh questions around transparency and project accountability.The scheme allows companies to build eligible roads and offset costs against future tax liabilities, making it a large fiscal lever that directly affects distributable revenue.
The central issue now is governance: whether project valuation, scope, and delivery milestones align with tax credits claimed across participating firms.
ThisDay reports that “a combined $577.6 million and N822.3 billion were utilised under the scheme,” while ARISE News says the panel is probing “the scale of deductions, transparency of project execution and accountability.”
Echotitbits take: Tax-credit infrastructure can be smart—if procurement and monitoring are airtight. If not, it becomes a quiet drain on FAAC. Watch for the committee’s recommendations and whether disclosure rules get tougher.
Source: The Punch — December 29, 2025 (https://punchng.com/faac-flags-poor-responses-in-road-tax-scheme/)
The Punch 2025-12-29Photo Credit: The Punch