The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr Taiwo Oyedele, has assured Nigerians that the new tax reform laws taking effect from January 2026 will reduce the tax burden for almost everyone in the country. He said the reforms are designed to bring relief, not hardship, and that most of the claims circulating on social media are false and misleading.
Oyedele, who spoke through his WhatsApp platform, explained that the new system will favour low-income and middle-income earners, small businesses, and even large companies. According to him, the idea behind the reform is to simplify Nigeria’s tax structure, remove unnecessary levies, and make life easier for citizens and businesses.
He said Nigerians in the lower and middle brackets will pay little or no tax. “You will pay less or no tax if you are in the bottom 98 per cent of income earners,” he said. He also explained that essential goods and services would become cheaper because the government is removing VAT on basic needs. He said food, education and healthcare will no longer attract VAT, which should reduce prices for many households already battling rising living costs.
The reforms are also aimed at supporting business growth. Oyedele stated that small companies will enjoy major relief because they will pay zero per cent corporate tax and will also be exempted from VAT. For larger companies, he said they will pay lower corporate tax and will qualify for VAT credits on their expenses. According to him, the combined effect will create a fairer system where individuals, small businesses and big firms all benefit from a lighter tax burden.
He said the atmosphere of fear around the reforms is unnecessary because many of the claims being shared online do not reflect what is written in the new law. He warned that “some individuals and media are spreading misleading claims about the new tax reform laws taking effect from next year,” and these false claims are causing panic among citizens who may not understand how the tax system works.
Oyedele questioned why anyone would say the timing is not right for reform. He argued that delaying a tax reform that reduces what Nigerians currently pay does not make sense, especially when many households and firms are struggling with high costs. He said the purpose of the reform is not to create new taxes but to reduce the burden of the existing ones.
He also listed some of the misleading claims circulating on social media. According to him, rumours that the government plans to introduce new taxes, deduct money directly from bank accounts, tax gifts and remittances, target online income, or increase inflation are all false. He emphasised that the new laws did not introduce any new tax and that no Nigerian should be afraid.
To show how damaging misinformation can be, Oyedele shared a recent incident. He said he met someone who refused to buy rights issues from his bank because he wrongly believed that he would be charged 30 per cent Capital Gains Tax. He explained that the man was actually exempt under the new law but had already lost money because he acted based on wrong information. He said this is why Nigerians must always check facts before making financial decisions.
He explained that Nigeria’s low level of tax literacy makes many people vulnerable to being misled. He said many Nigerians do not fully understand how taxes work, which gives room for false claims to spread quickly. He encouraged citizens to ask questions whenever someone claims that new taxes are being introduced. “When they say new taxes are coming, ask them to mention one. If they say taxes will go up, ask them which tax and for who?” he said.
Oyedele said the 2026 reforms were designed to support economic growth, reduce pressure on households, and encourage small businesses to operate formally instead of staying outside the tax system. He added that the new laws will give Nigeria a clearer, more predictable and more friendly tax environment. He encouraged Nigerians to focus on the benefits and ignore those spreading fear.
