16th October, 2025
by Jide Ajia
The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, used the platform of the IMF / World Bank Annual Meetings in Washington D.C. to present Nigeria’s new tax reform agenda.
Oyedele described the reforms not merely as revenue-raising measures, but as structural changes intended to simplify compliance, reduce business risk, and enhance fairness in Nigeria’s tax system.
One major proposal: consolidate Nigeria’s roughly 60 different taxes by repealing or replacing obsolete tax laws, to achieve greater clarity and predictability for investors.
The reforms aim to shift the tax burden away from low-income earners and small businesses, while introducing progressivity so that higher-income individuals contribute more.
Oyedele indicated that households with monthly incomes below ₦250,000 will likely be exempt from income tax under the new framework, giving relief to lower and middle classes.
The broader goal is to increase Nigeria’s weak tax-to-GDP ratio, and to foster a more transparent, efficient fiscal environment that encourages foreign direct investment.
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