The Federal Government unveiled a dynamic tax reform package that promises to simplify compliance, ease burdens on small businesses and low-income earners, and strengthen Nigeria’s fiscal foundation
At a sensitisation forum held in Enugu, under the theme “Tax Reforms and Compliance: Impact on Small and Medium Enterprises in the South East,” government officials, tax specialists, and community leaders gathered to discuss the reforms and their impact
The Senior Special Assistant to the President on Community Engagement (Southeast) emphasized that these reforms aim to create a fairer tax environment for everyday Nigerians. She noted that engaging market women and traders was intentional, since informed women tend to share knowledge across households and communities. In addition, she highlighted that policy changes, such as removing subsidy, unifying the exchange rate, and increasing allocations to states, should funnel more development projects directly to citizens.
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Furthermore, the Chairman of the Tax Appeal Tribunal (Southeast Zone) revealed that President Tinubu signed four new tax acts into law on June 26, 2025, which consolidated over 20 previously scattered tax laws. He explained that businesses earning less than ₦50 million annually now no longer pay Companies Income Tax or Value Added Tax. In addition, minimum-wage earners have gained full exemption from Personal Income Tax. He described this as a move toward progressive taxation, the wealthy pay their fair share, while the economically vulnerable receive protection.
Moreover, the reforms include a new Tax Dispute Resolution Mechanism that enables citizens to lodge complaints free of charge and expect resolution within 7–14 days.
Adding context, a chartered accountant and tax expert stressed that these changes are critical for strengthening Nigeria’s fiscal base. He also pointed out that SMEs, representing over 90% of businesses and nearly 60% of jobs in Nigeria, now have more room to innovate and support economic diversification
Meanwhile, a representative from the Nigerian Education Loan Fund (NELFUND) explained that tax revenues are already funding education. Through NELFUND, undergraduates in universities, polytechnics, and colleges of education can access loans that cover tuition and living expenses. These loans only become repayable—interest-free—two years after completing their National Youth Service Corps (NYSC)
In closing, attendees including FIRS officials, professionals, women leaders, and community stakeholders called for greater collaboration, urging Southeast residents to comply with the reforms. They celebrated the government’s efforts to create a fairer tax regime and encouraged citizens to embrace it as a step toward nationwide economic growth
