- New Tax Reforms Will Take Effect January 1, 2026 – Oyedele
- Majority of workers and small businesses to enjoy tax relief
- Government targets growth, inclusivity, and shared prosperity
The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has reiterated that Nigeria’s new tax reforms will officially commence on January 1, 2026.
Oyedele made this known while speaking to journalists after a visit by the National Tax Policy Implementation Committee to President Bola Tinubu at his residence in Lagos. The committee was led by its chairman, Joseph Tegbe.
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EKO HOT BLOG reports that he explained that the reforms, which are backed by newly enacted tax laws, are designed to provide relief for Nigerians while stimulating economic growth and expanding opportunities across different sectors of the economy.
According to Oyedele, the government remains committed to implementing the reforms as scheduled, stressing that the objectives include inclusivity and shared prosperity for citizens.
“The plan to commence the two remaining new laws on the 1st of January 2026 will go ahead as planned on schedule because these reforms are designed to provide relief to the Nigerian people,” Oyedele said.
He added that the reforms would significantly reduce the tax burden on workers and businesses, especially at the lower end of the income ladder.
“Bottom 98 per cent of workers will see either no PAYE tax or lower taxes to be paid; small businesses, 97 per cent of them, will be exempted from corporate income tax, VAT, withholding tax, and large businesses will see a drop in the taxes that they pay,” he stated.
Oyedele noted that the broader aim of the reforms is to create a more balanced and growth driven tax system that supports productivity and encourages investment.
“The whole idea is to try and promote economic growth, inclusivity, and shared prosperity for our people. We are actually excited at the progress we are making, and we are looking forward to January 1, 2026,” he said.
The Federal Government has consistently maintained that the tax reforms are part of wider efforts to strengthen revenue generation while easing pressure on households and businesses.
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