Abuja, Nigeria – The Tinubu-led administration has launched a public enlightenment campaign on the Nigeria Tax Act 2026, engaging State House Correspondents in a one-day training session at Rockview Royale Hotel, Abuja.
According to Associate Professor Taiwo Oyedele, Chairman of the Presidential Tax Reform Committee, the new Act consolidates over 60 existing taxes into a unified framework, making compliance simpler and fairer. The reform is designed to be pro-poor and pro-growth, with zero or reduced tax for 97% of Nigerians, including small businesses with annual turnover below ₦120 million.
The newly introduced Tax Identification Number (Tax ID) was clarified as a verification tool, with citizens having NIN-linked bank accounts already compliant. A 5% fuel surcharge, existing under the FERMA Act since 2007, will now fund road construction and maintenance.
The government highlighted the country’s fiscal challenges, with 97% of revenue spent on debt servicing in 2022. However, reforms are already showing results, with NNPC’s first-quarter 2025 remittance surpassing all of 2024 combined.
Prince Babatunde Kolawole, Chief Media Editor of Brooom Nigeria, and other participants were charged to educate the public on the benefits of the Act and hold the government accountable for the transparent use of tax revenues.
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