Amaechi Warns of 25% Deductions Under New Tax Law

Africa, Business, Politics

ABUJA, NIGERIA: Opposition figure and 2027 presidential aspirant Rotimi Amaechi has cautioned Nigerians against re-electing President Bola Ahmed Tinubu, warning that the administration intends to implement a controversial tax policy after the forthcoming elections. Speaking during a campaign event in Abuja over the weekend, the former Rivers State governor and ex-Minister of Transportation told traders that under the new law, “every payment made to you, 25% will be deducted by 2027.”

Amaechi alleged that the ruling party had delayed implementation of the measure until after the polls, adding: “If you receive ₦100 million for goods you sold, ₦25 million will be deducted from your bank account immediately. By January–February next year, all of you will be in trouble if the APC wins.”

Nigeria’s new tax laws, which came into effect on January 1, 2026, represent the most ambitious fiscal overhaul in the country’s history. The reforms consolidate multiple statutes—including the Companies Income Tax Act, Personal Income Tax Act, Value Added Tax Act, and Capital Gains Tax Act—into a single streamlined regime. While the legislation introduces significant exemptions for low-income earners and small businesses, Finance Minister Wale Edun has emphasised that the reforms are designed to broaden the tax base, stimulate economic activity, and support the federal government’s ambition of building a $1 trillion economy.