According to Punch Newspapers on Monday, October 19, 2026, Senator Ireti Kingibe has raised concerns over Nigeria’s tax reforms, warning that citizens could face increased financial pressure in 2027 under President Bola Tinubu’s administration.
Kingibe, who represents the Federal Capital Territory in the Senate, made the remarks while discussing the country’s tax policies and their possible effects on ordinary Nigerians.
She claimed that a tax law had already been passed and warned that its implications could become a major concern as the country approaches the 2027 general elections.
The senator’s comments have attracted attention because many Nigerians are already struggling with the high cost of living, rising food prices and other financial challenges.
Her warning has also renewed public debate about how the government’s tax reforms could affect workers, business owners and households.
Kingibe expressed concern that Nigerians might face a heavier tax burden, suggesting that the outcome of the 2027 election could influence the country’s economic direction.
However, it is important to understand what the new tax law actually provides. The Nigeria Tax Act 2025, which came into effect on January 1, 2026, introduced a progressive personal income tax system. Under this arrangement, individuals pay different rates depending on their taxable income.
The first ₦800,000 of annual taxable income is subject to a zero per cent rate, while the highest rate of 25 per cent applies to taxable income above ₦50 million. This means that the law does not require every Nigerian to pay 25 per cent of their entire earnings as tax.
The amount an individual pays depends on their taxable income, applicable deductions, exemptions and the relevant provisions of the law.
Nevertheless, Kingibe’s comments highlight the importance of making tax policies clear to the public. Nigerians need to understand how the reforms affect their salaries, businesses and other sources of income.
The Federal Government has defended its broader tax reforms as part of efforts to improve revenue collection and strengthen public finances.
However, concerns remain about how taxation will affect citizens who are already dealing with economic hardship.
As the 2027 elections approach, taxation is likely to remain an important issue in political discussions. Nigerians will be watching closely to see how the government implements its policies and whether the reforms deliver meaningful improvements in public services and living conditions.
For now, the senator’s warning has added to the debate over taxation, economic hardship and the future direction of Nigeria’s economy.
SOURCE: Redward
