The Chairman of the National Tax Policy Implementation Committee, NTPIC, Joseph Tegbe, says Nigeria’s newly introduced tax regime is designed to reduce the financial burden on workers and small businesses while strengthening the country’s fiscal sustainability and economic competitiveness.
Tegbe made the remarks at the BusinessDay Tax Reform Conference 2026, themed “Navigating the New Tax Regime: What It Means for Your Wallet.” He described the reforms as one of the most comprehensive overhauls of Nigeria’s tax architecture in decades.
According to him, the reforms are anchored on four key legislations: the Nigeria Tax Act 2025, Nigeria Tax Administration Act 2025, Nigeria Revenue Service (Establishment) Act 2025, and the Joint Revenue Board of Nigeria (Establishment) Act 2025.
He explained that the new framework introduces targeted reliefs for individuals and businesses to simplify taxation and promote economic growth.
Under the new regime, individuals earning less than ₦800,000 annually will be exempt from personal income tax. Workers will also be able to claim rent relief of up to 20 per cent, capped at ₦500,000.
Small businesses are also expected to benefit significantly from the reforms. Companies earning below ₦100 million annually and with assets under ₦250 million will be exempt from Company Income Tax, while nano-enterprises earning less than ₦12 million per year will not pay income tax.
Tegbe, however, emphasised the importance of proper documentation and tax filing, even for individuals and businesses that fall within the tax-exempt threshold.
“These reforms are designed to make taxation simpler, fairer and more predictable for Nigerians,” he said. “For most workers and small businesses, the new regime means paying the same or even lower taxes while operating within a more transparent system.”
He added that the reforms would strengthen tax administration through improved coordination among institutions such as the Nigeria Revenue Service, the Joint Revenue Board of Nigeria, the Tax Appeal Tribunal and the Office of the Tax Ombud, while also accelerating the digitalisation of tax processes.
According to Tegbe, the ultimate goal of the reforms is to build a tax system that supports enterprise, encourages investment and promotes long-term economic growth.
Other dignitaries present at the conference included Olusegun Adesokan, Executive Secretary of the Joint Revenue Board; Michael Ango, Acting Executive Chairman of the FCT Internal Revenue Service; Uche Uwaleke; and Sam Amadi, among others.
