Tinubu’s tax reforms will improve Nigeria’s GDP ratio — Siji Olamiju

The former Special Adviser on Public Health to former governor Adegboyega Oyetola and former APC candidate in the House of Representatives in Oriade Obokun Federal Constituency, Prof Olasiji Olamiju, popularly known as Akol, has said that President Bola Ahmed Tinubu’s tax reforms will improve Nigeria’s Gross Domestic Product (GDP) ratio.

Olamiju said this in a statement made available to newsmen on Friday in Osogbo, through his media aide, Mr Adebayo Temitope.

According to him, such reforms would address insufficiency and also promote voluntary compliance.

He stated that the new tax law taking effect on Jan. 1, 2026 will give stakeholders sufficient time to adjust to the new reforms.

“The implementation process will involve a nationwide awareness and stakeholders’ engagement campaign to ensure seamless adoption of the new policies.

“As Nigeria embarks on this new chapter in its tax and revenue history, experts believe the reforms could significantly address inefficiencies and promote voluntary compliance,” Olamiju said.

Continuing, he explained that the impact of tax reforms is expected to bring numerous benefits, including relief for small business owners in the country.

“I want to emphasise that 30 per cent of Value Added Tax (VAT) generated in states should remain, while 50 per cent is shared equally among all states, and 20 per cent be allocated based on population size.

“Also, overseas mechanisms like a Tax Appeal Tribunal and tax ombudsman will strengthen accountability and fairness in the tax system.”

He further said the new enacted laws would help overhaul the country’s tax administration, boost government revenue, and improve the ease of doing business by both investors and individuals.

Olamiju, therefore, expressed optimism that the tax laws recently signed by President Bola Tinubu would bring a significant milestone in Nigeria’s economic history.

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