The Federal Government has reaffirmed its commitment to the January 1, 2026, commencement of Nigeria’s landmark tax reforms, dismissing calls for further delays. In a major boost for the private sector, 97 per cent of small businesses will be exempted from three key taxes: Corporate Income Tax, Value Added Tax (VAT), and Withholding Tax. “These reforms are designed to provide direct relief to the Nigerian people,” Oyedele explained, outlining the targeted benefits. The tax reform bills underwent an extensive nine-month legislative review at the National Assembly, from October 2024 to June 2025. While expressing encouragement at the progress, the tax chairman acknowledged that such transformative policies require ongoing adjustment.

Source: Punch December 26, 2025 22:00 UTC