Chairman of the Presidential Fiscal Policy and Tax Reform Committee, Taiwo Oyedele, says Nigerians will begin to feel the impact of the country’s new tax laws from January 2026, with about 98 percent of citizens expected to pay less, or stop paying Pay As You Earn, PAYE, tax.
Speaking at the Nigerian Economic Summit in Abuja, Mr Oyedele explained that the reforms signed into law by President Bola Tinubu in June 2025 overhaul Nigeria’s tax system to boost growth, revenue, and transparency. The four new Acts include the Nigeria Tax Act and the Nigeria Revenue Service Act.
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He said the measures would ease the tax burden on low-income earners, reduce corporate tax rates from 30 to 25 percent, and exempt small firms with annual turnovers below ₦100 million, encouraging formalisation and improving the business climate.
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