\n\nAbuja, Nigeria — Former Rivers State Governor and African Democratic Congress (ADC) chieftain, Chibuike Rotimi Amaechi, on Sunday sparked fresh controversy by alleging that President Bola Tinubu has enacted a tax law that could severely impact Nigerians — but is being held back until after the 2027 presidential election.
Amaechi claimed in a viral video shared by Symfoni TV that President Tinubu is deliberately delaying full implementation of the Nigeria Tax Act 2025 because he fears that putting it into force before the elections could hurt his chances of re-election.
Addressing a crowd, Amaechi warned that if the law is strictly applied after the 2027 polls, transactions such as payments for building materials could attract massive automatic levies on bank accounts. Using an example, he said, “if I buy building materials worth ₦100 million from a trader, about ₦25 million would automatically be deducted from the trader’s account” — a claim that has set off intense debate online.
Amaechi also cautioned Nigerians about the potential economic fallout, suggesting that ordinary citizens could struggle under the weight of the new tax regime once fully operational. In a striking declaration tied to his political views, he said:
“I have told Nigerians that if they vote Tinubu, only me and my wife will just go and live in Ghana.”
His comments have become a talking point across social media platforms, where political commentators and members of the public have weighed in on the implications of the proposed tax measures for everyday Nigerians.
However, the Federal Government has moved swiftly to debunk Amaechi’s claims, describing them as misleading and inaccurate.
In a response issued through key government channels, Presidential aides and tax policy officials rejected the suggestion that the tax law will only take effect after 2027 or that it contains any provision for automatic 25 per cent deductions on payments for goods or services.
Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, clarified that the Nigeria Tax Act 2025 has already commenced and does not impose a 25 per cent tax on building materials, construction funds, bank balances, or business transactions. Instead, the law contains provisions intended to reduce the cost of housing, encourage real estate development, and provide targeted incentives for investors, developers and low-income renters.
Oyedele noted that some sections of the law were designed to make housing more affordable — such as exemptions from Value Added Tax (VAT) on land and buildings, reduced withholding tax rates on construction contracts, mortgage interest deductions for homeowners, and rent relief up to ₦500,000 for tenants — but emphatically denied any automatic debits on ordinary funds.
The Presidency’s Special Adviser on Information and Strategy also weighed in, accusing Amaechi of spreading “egregious lies” about the legislation and warning that such narratives could be part of a broader political strategy ahead of the 2027 elections.
Opposition figures and analysts have since engaged in wider discussions about the implications of tax reforms for Nigeria’s economy and electorate, with some supporters of Amaechi asserting that the concerns are valid, while critics argue the claims are unfounded and politically motivated.
As public debate intensifies, many Nigerians are looking to official documentation of the Tax Act 2025 and expert interpretation to clarify what the law actually stipulates and how — or if — it will affect business transactions and personal finances going forward.
