NECA THROWS WEIGHT BEHIND FG’S TAX LAWS IMPLEMENTATION: “PROCEED WITH JANUARY 1, 2026 DEADLINE”
GREATRIBUNETVNEWS–Nigeria Employers’ Consultative Association (NECA) has expressed strong support for the implementation of the tax laws, scheduled to commence on January 1, 2026.
KEY ISSUES:
– Tax Laws Implementation: NECA backs FG’s implementation of tax laws, despite efforts to misinform the public.
– Stakeholder Engagement: NECA urges FIRS to deepen awareness on tax laws with the organised private sector.
– Addressing Concerns: NECA acknowledges concerns on National Assembly’s alteration, but says it’s not sufficient to halt implementation.
– Economic Objectives: Tax laws aim to create a conducive business environment, generate jobs, and address insecurity.
QUOTES:
– “We cannot continue to run the system the way it was run with a lot of inconsistencies. No law is perfect, and that’s why we have made provisions for amendments.” – Wale Smatt-Oyerinde, NECA DG
– “The legislation remains a significant item that has witnessed the most excellent form of organised chaos in Nigeria’s political history.” – Wale Smatt-Oyerinde, NECA DG
– “The tax laws were aimed at creating a more conducive and productive business environment for the private sector, thereby generating jobs that would address the root cause of insecurity in Nigeria.” – Wale Smatt-Oyerinde, NECA DG
– “I have never seen a regulation or legislation that witnessed this kind of engagement or antagonism.” – Wale Smatt-Oyerinde, NECA DG
While acknowledging that the economic reforms undertaken by the present administration had brought macroeconomic stability to the country in 2025, he expressed optimism that these gains would start translating into a more favorable microeconomic environment for Nigerians to benefit in 2026.
Asked to comment on the relationship between NECA and organised Labour, he explained that it remains cordial, noting that both parties would continue to deepen engagement to close the gap in areas where there are wide disparities.
“We will consolidate on the foundation of fiscal industrialization that already existed, and continue to engage the government in the context of an environment that will make this country much more profitable, not only for those in government, but also for Nigerians,” he said.
Commenting on the controversial N25 million annual levy/cap for Public Interest Entities (PIEs) under the FRC (Amendment) Act 2023, which has generated backlash, he said the association will continue to engage with the Council to arrive at a long-term decision that ensures regulatory equity and investors’ confidence
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