A Nigerian accountant has sparked significant concern and debate across social media platforms after outlining the stringent penalties awaiting those who fail to comply with the country's new tax regulations set to be fully enforced in 2026.
Details of the Impending Tax Penalties
The warning was issued via a TikTok video posted by the accountant, who uses the handle @accountsanddata. He specifically addressed the consequences for taxable individuals and entities who refuse to pay their dues once the law becomes operational.
He clarified that business owners, including operators of limited liability companies and small businesses, are mandated to file their taxes with the Federal Inland Revenue Service (FIRS) from the moment they commence operations.
The penalty for non-compliance is severe. According to his explanation, failure to file taxes will result in a fine of N50,000 for the first month of default. Subsequently, an additional N25,000 will be charged on top of that amount for continued non-filing, indicating a potentially escalating financial burden for defaulters.
Mixed Public Reactions to the Tax Law
The accountant's revelations have triggered a wave of reactions from Nigerians online, reflecting widespread anxiety and criticism towards the impending policy.
One user, The Fabric Chef, expressed skepticism about the public's understanding of the law, stating, "I've come to realise that none of you actually understand this tax law correctly."
Other comments revealed deep-seated frustrations with governance and infrastructure. Jidenna TV criticized the government's priorities, asking why partnership deals for critical infrastructure like nuclear power were not pursued as vigorously as tax collection. User Suretina1 questioned the logic of aggressive taxation in a challenging economic landscape, commenting, "This man what is ur problem? Which work dey this country when dem wan dey collect tax."
Further concerns were raised about safety, unemployment, and healthcare. User king Jovina asked, "What measures as the government put for house to pay tax are we safe in the country what is the pacent of unemployment and our health care is it functioning..." Others, like Nice fragrance, inquired about potential loopholes, such as moving transactions offshore or relocating.
Context and Related Reports
This social media alert aligns with previous reports by The Nation newspaper, which had also detailed penalties for individuals failing to meet their tax obligations. The official commencement date for the new tax law is drawing closer, adding urgency to the conversation.
In a related development, Legit.ng reported on a Nigerian remote worker, Onyedika Justice, who expressed shock after calculating the prospective deductions from his salary under the new law. Similarly, another remote worker condemned the government for planning to tax all Nigerians despite persistent deficits in basic infrastructure like stable electricity and internet, which are critical costs for remote professionals.
As the January 2026 effective date approaches, the dialogue between Nigerian citizens and the authorities regarding taxation, governance, and economic priorities is expected to intensify.
