Spend our taxes wisely, NACCIMA youths tell FG

The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) Youth Entrepreneurs has urged the Federal Government to channel proceeds from the new tax laws into infrastructure to boost economic growth.

The appeal comes amid the Federal Government’s insistence on implementing the Nigeria Tax Act and the Tax Administration Act from January 1, 2026, despite controversies surrounding the gazetted versions. The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has said the reforms are meant to ease pressure on Nigerians rather than raise quick revenue.

Speaking at the Ondo City Entrepreneurs’ Dinner organised by NACCIMA Youth Entrepreneurs and the Ondo Kingdom Chamber of Commerce, the President of NACCIMA in Ondo State, Pastor Henry Adesaoye, said the policy would support businesses, especially those in the informal sector.

“The reform aims to ensure that low- and middle-income earners pay less, while high-income earners contribute a fairer share,” he said.

Adesaoye stressed that government must build public trust by reinvesting tax revenue. “The government must give every citizen hope and earn trust by investing tax revenue in infrastructure that will make life meaningful and improve the economy,” he added.

He dismissed criticism of the reforms, saying, “Contrary to its critics’ baseless assumptions, the new tax law will protect small businesses and ensure that the rich fulfil their obligations to society. It will block leakages and expand the tax net.”

On youth engagement, Adesaoye said the programme was designed to inspire young entrepreneurs. “Whatever they are doing, there is always a starting point, irrespective of their challenges,” he noted.

Also speaking, the Coordinator of the Ondo Kingdom Chamber of Commerce, Mr Sam Adegbola, said the dinner was aimed at fostering collaboration among entrepreneurs. He disclosed plans for a business summit in July 2026 and a free agricultural training scheme, which has produced 65 beneficiaries so far.