NECA: New Tax Laws deserve support of All.

By  Afolabi Oyekunle.

The Nigeria Employers’ Consultative Association (NECA) calls on Nigerians to back the new tax laws, as it expressed strong support for the implementation of of the tax laws, scheduled to commence, tomorrow,  January 1, 2026.

The Director-General of the Nigeria Employers’ Consultative Association, (NECA) Wale Smatt-Oyerinde,  said this during a media parley held in Lagos on Tuesday, December 30, 2025 .

DG NECA speaking at the Media Parley.

 He commended the Presidential Committee on Fiscal Policy and Tax Reforms for doing a lot to constructively engage with all the stakeholders, despite efforts to misinform the Nigerian populace on its intention, and urged the Federal Inland Revenue Service to step up to its responsibility by working with the organised private sector to deepen awareness on the tax laws.

Cross section of Media personalities at the parley.

The DG, who expressed great satisfaction with the level of engagement associated with the tax reforms, said the legislation remains a significant item that has witnessed the most excellent form of organised chaos in Nigeria’s political history.

Notwithstanding, he urged the Federal Government to proceed with the implementation of the laws, as the issue of alteration raised by the National Assembly was not sufficient to halt it, considering its economic objectives. “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. As we proceed, we can make necessary amendments, and by doing so, we are building an institution,” he said." 

He stated that 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.

 He noted that the stiff resistance faced by the reforms alone is an indication that some forces were against the growth of the Nigerian economy. “I have never seen a regulation or legislation that witnessed this kind of engagement or antagonism. I also probably have not seen an item in our lives that has witnessed this kind of organized chaos."

However, the committee has done tremendous work, moving from one place to another. We all saw the issues, until two weeks ago, when it was alleged that the version gazetted was different from the one passed by the National Assembly. And one of the things we want to say is that, for every human endeavor, once you have human beings to superintend the process, no matter how beautiful it is, there will always be an effort to sabotage it,” he said.

Asked to comment on the recent ban on sachet drinks by NAFDAC, he noted that a blanket ban was not the solution to the problem, as this would likely create another opportunity for smugglers, especially with Nigeria having more than 1,000 unmanned entry and exit.

According to him, banning sachet drinks poses a serious threat to the Nigerian economy as this action would lead to loss of jobs and investments.

He therefore urged the government to engage more with all stakeholders, business owners, and consumers to arrive at solutions that would be a win-win for all.He stressed that 2025 has been a pretty eventful year, as the association collaborated with numerous government agencies to ensure that the business environment becomes more hospitable and friendly.

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.# 

NECA, Nigeria Employers’ Consultative Association (NECA) was formed in 1957 to provide a forum for the Government to consult with private sector employers on socio-economic and labour policy issues. It is, therefore, the umbrella organization of employers in the Organised Private Sector of Nigeria. NECA provides a platform for private sector employers to interact with the government, labour, communities and other relevant institutions in and outside Nigeria for the purpose of promoting a harmonious business environment that will engender productivity and prosperity for the benefit of all.