Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr. Taiwo Oyedele, has introduced 50 new tax exemptions and relief measures aimed at reducing the financial burden on low-income earners, average taxpayers, and small businesses. The measures are part of Nigeria’s new tax reform laws, set to take effect on January 1, 2026. In…
President Bola Tinubu has officially abolished the 5% excise duty on telecom services, permanently removing the tax to reduce the financial burden on Nigerians and boost digital growth. NCC boss Aminu Maida confirmed the move on Tuesday, noting that what was once a suspension is now law. He quoted the President as saying: “We cannot…
The Federal Government has launched a national Electronic Fiscal System (EFS) to modernise tax administration, reduce evasion, and improve transparency in revenue collection. The Federal Inland Revenue Service (FIRS) confirmed that the platform, featuring an e-invoicing solution called the Merchant-Buyer System (MBS), officially went live on August 1, 2025, after a successful pilot phase that…
The National Economic Council (NEC) has expressed reservations about President Bola Tinubu’s forwarding of the Tax Reform Bill to the National Assembly. The measure was sent to NASS based on the findings and suggestions of the Presidential Committee on Fiscal and Tax Reforms, which the President established to increase the nation’s revenue generation. The NEC…
