The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has said President Bola Tinubu lacks the legal power to suspend or stop the implementation of the Finance Act 2023, despite rising opposition.
Oyedele, speaking at a policy roundtable in Lagos, explained that the Finance Act became law once it was signed by the previous president. “Only the National Assembly can amend or repeal it. The president can’t override a law by mere directive,” he said.
This comes as critics, including the Nigerian Bar Association and former Vice President Atiku Abubakar, demand suspension of the new tax laws. They argue that the laws impose hardship on citizens and were passed without proper consultation.
However, Oyedele maintained that the committee is only reviewing the law and proposing reforms. “Our role is to advise, not enforce,” he added. He assured Nigerians that recommendations from the committee aim to reduce tax burden and improve compliance.
Some legal experts, however, disagree with Oyedele’s position. Human rights lawyer Femi Falana (SAN) said the executive can delay implementation through policy measures. “The president may not repeal a law, but he can suspend its enforcement in the public interest,” he said.
Another lawyer, Liborous Oshoma, argued that implementation could be paused until proper stakeholder engagement is done.
The controversy continues to stir debate, with the government under pressure to strike a balance between revenue generation and public welfare, especially as the economic crisis deepens.
