Chairman of the Presidential Committee on Tax Policy and Fiscal Reforms, Taiwo Oyedele. Photo: State HouseThe Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has revealed that Nigerian workers are beginning to receive higher take-home pay following a reduction in Pay As You Earn (deductions under the newly implemented tax laws. New Tax Reform FrameworkThe federal government recently began implementing a new tax reform framework anchored on the Nigerian Tax Act and the Nigerian Tax Administration Act. Oyedele had previously stated that about 98% of Nigerian workers will either pay no PAYE tax or lower taxes under the new framework. He also noted that approximately 97% of small businesses will be exempt from corporate income tax, value-added tax (VAT), and withholding tax, while large companies will also benefit from reduced tax liabilities.

Source: Punch January 26, 2026 16:20 UTC