New Tax Laws to Take Effect January 1, 2026 — Oyedele

(AFRICAN EXAMINER) – The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has reaffirmed that the implementation of Nigeria’s new tax reforms will commence on January 1, 2026.

Oyedele said the reforms, contained in the new tax laws, are aimed at easing the tax burden on Nigerians and promoting economic growth.

He spoke to journalists after members of the National Tax Policy Implementation Committee (NTPIC), led by Joseph Tegbe, visited President Bola Tinubu at his residence in Lagos.

According to Oyedele, the government will proceed with the implementation of the remaining two tax laws as scheduled.

He said the reforms would ensure that the bottom 98 per cent of workers either pay no Pay-As-You-Earn (PAYE) tax or pay reduced taxes. He added that about 97 per cent of small businesses would be exempted from corporate income tax, value-added tax (VAT), and withholding tax.

Oyedele further stated that large businesses would also benefit from lower tax obligations, noting that the reforms are intended to promote economic growth, inclusivity, and shared prosperity.

He expressed confidence in the progress made so far and said the government is looking forward to the full implementation of the reforms on January 1, 2026.

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