Abuja, Nigeria — The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr. Taiwo Oyedele, has announced a broad package of 50 tax exemptions and relief measures targeted at easing the financial burden on low-income earners, average taxpayers, and small businesses. The new framework forms part of Nigeria’s ongoing tax reform agenda and is set to take effect from January 1, 2026.
In a statement shared on his official handle on X (formerly Twitter), Oyedele described the initiative as “one of the most people-focused tax reforms in Nigeria’s recent history,” stressing that it aims to make the fiscal system fairer, simpler, and more inclusive.
According to him, the reforms are structured to reduce the tax load on vulnerable groups and boost compliance, while improving the ease of doing business for micro, small, and medium enterprises (MSMEs).
“From 1 January 2026, the new tax laws will provide many reliefs and exemptions for low-income earners, average taxpayers, and small businesses,” Oyedele stated.
The relief package is expected to address long-standing concerns over Nigeria’s complex and burdensome tax structure, which has often discouraged investment and limited economic productivity.
Sources within the committee suggest that the forthcoming measures will cover areas such as personal income tax adjustments, value-added tax (VAT) reliefs on basic goods and services, and reduced compliance costs for small enterprises.
The reform initiative aligns with President Bola Ahmed Tinubu’s broader fiscal policy roadmap, which seeks to enhance equity within the tax system, improve government revenue efficiency, and create a more enabling environment for economic growth.
Analysts have welcomed the announcement, noting that targeted exemptions could help stimulate consumption, protect disposable income, and revive small business activity amid ongoing inflationary pressures.
— Ranks Africa Business Desk
