The Federal Government has inaugurated an inter-ministerial committee to develop a new Value Added Tax (VAT) Modification Order aimed at supporting the implementation of Nigeria's Tax Reform Acts, which took effect on January 1, 2026. The committee was inaugurated by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, at the Federal …
Rather than raising taxes, Nigeria is reshaping its revenue mobilisation strategy to widen the tax base and improve the efficiency of tax collection. The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, reiterated this at the BusinessDay 14th Annual CEO Forum in Lagos, describing the approach as key to sustaining long-term economic …
While the current administration rolls out ambitious tax reforms aimed at widening the net for revenue generation and boosting a historically low tax-to-GDP ratio, there are concerns about an invisible barrier—a deeply entrenched trust deficit. For decades, taxation has remained one of Nigeria's most contentious public policy issues. This, according to analysts, stems from the …
Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr Taiwo Oyedele, has revealed that Nigeria’s ongoing tax reforms have exposed him to threats against his personal safety. Oyedele disclosed this on Tuesday in Abuja while speaking at a governance colloquium organised to mark the 50th birthday of Hajiya Hadiza Bala Usman, Special …
As Nigeria ushers in 2026, the nation operates under a landmark fiscal framework, the 2025 Tax Reform Laws. Designed to modernize the tax system, broaden compliance, and strengthen national revenue, these reforms have generated both optimism and anxiety. A wave of misinformation circulating online has raised fears that the new system could allow authorities to …
KPMG has flagged key concerns over the Nigeria Tax Act (NTA) and the Nigeria Tax Administration Act (NTAA), warning that several provisions could create legal uncertainty. The firm outlined the errors and gaps in a recent report titled ‘Nigeria’s New Tax Laws: Inherent Errors, Inconsistencies, Gaps and Omissions.’ Pinnacle Daily reports that the implementation of …
Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has clarified that the new tax law is intended to support rather than harm the aviation industry. His clarification follows a recent claim by the Chief Executive Officer of Air Peace, Allen Onyema, that the reform will hurt the industry. Contrary to misconceptions, …
Nigeria’s financial landscape saw significant shifts in 2025, with key events influencing the economy’s trajectory. From major reforms to foreign capital inflows, these activities played a crucial role in shaping Nigeria’s economic outlook. Here are the top 10 financial stories in Nigeria for 2025, backed by key data points that highlight their impact. 1. Nigeria …
The Nigerian Bar Association (NBA) has raised concerns over controversies surrounding the recently enacted Tax Reform Acts, warning that the development casts doubt on the integrity and credibility of Nigeria’s legislative process. In a statement signed by its President, Mazi Afam Osigwe, SAN, the association said the circumstances trailing the passage of the laws strike …
President Bola Ahmed Tinubu has urged Nigerians not to fear about the new tax regime set to begin next year, promising significant benefits for low-income earners, small businesses, and essential sectors. Speaking at the 8th Annual Senator Abiola Ajimobi Roundtable and the 76th posthumous birthday lecture of the late Oyo State governor at the University …
