Senator Solomon Adeola says Nigerians earning ₦800,000 or less annually will no longer pay personal income tax, following the signing of four major tax reform laws by President Bola Tinubu.
The new legislation—the Nigeria Tax Act, Tax Administration Act, Revenue Service Act, and Joint Revenue Board Act—is aimed at simplifying tax compliance, unifying fiscal policy, and reducing the burden on low-income earners.
Also Read: Oil, Manufacturing Sector Got Highest Tax Exempt In 2022
Senator Adeola, who chairs the Senate Appropriations Committee, described the reforms as ‘historic and transformative’, aligning with the Renewed Hope Agenda.
Among the measures are zero VAT on essential goods and services such as basic food, education, healthcare, sanitary products, and local pharmaceuticals.
He said the new Revenue Service will collect both tax and non-tax revenues, while a new Tax Ombudsman will help protect taxpayer rights.
He emphasised that the laws promote equity and support struggling households.
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