Photo Credit: Nigeria News
2025-12-16
Speaking through the Federal Inland Revenue Service chairman at an Ibadan roundtable, President Bola Tinubu says new tax laws slated for 2026 will bring relief for households and small businesses.
According to the president’s remarks, the reforms are designed to reduce multiple taxation and exempt essential items and sectors such as food, medication, education, agriculture and shared transportation from what he called burdensome taxes.
The messaging suggests government is trying to build public confidence ahead of implementation, amid concerns about compliance costs and how quickly relief will show up in prices and pay‑packets.
Beyond the rhetoric, the key test will be the details: which goods and services qualify for exemptions, how VAT and PAYE changes are applied, and whether sub‑national taxes are harmonised to prevent ‘stacked’ levies on SMEs.
The Nation: “The laws come with good news to the poor, the low-income earners as well as small businesses.”
THISDAY: “The laws come with good news to the poor, the low-income earners as well as small businesses,” he said, explaining that food and medication would be exempt from burdensome taxes.
Analysis/Echotitbits take: If the exemptions are cleanly implemented, they could ease cost‑of‑living pressure and improve SME cashflow. Watch for the final implementing rules, VAT treatment of essentials, and how states align their own revenue drives with the federal posture.
Source: Punch — December 17, 2025 — https://punchng.com/new-tax-law-coming-with-good-news-tinubu-assures-nigerians/