New tax laws: Four tins to know about di reforms wey go take effect from January 2026

Di new Nigeria tax law go take effect from January 2026, and di govment say nothing go make dem stop am.

Nigeria govment under President Bola Tinubu bin setup di Presidential Fiscal Policy and Tax Reforms Committee.

Di work of di committee na to bring togeda multiple taxes and levies at all levels of govment so e go easy.

Part of di work of di tax committee na also to comot tax provisions wey dey serve as problems to business and economic growth.

Nigeria President Tinubu appoint ogbonge tax expert, Taiwo Oyedele, as di committee chairman for July 2023, and by August 2023, dem inaugurate di committee.

Years afta di constitution of dat committee, dem begin look into Nigeria tax system and di revenue collection method.

Na from dia dem draft di new tax law and by November 2025, oga Tinubu bin approve di establishment of di National Tax Policy Implementation Committee (NTPIC).

Howeva, plenti tok don come ontop dis tax mata as pipo dey debate if e go reduce dia burden or e go add to am.

For di statement on 30 December 2025, President Tinubu say no major issue dey for dem to stop di reform process and say make Nigerians trust di process as di reform dey begin.

BBC News Pidgin sidon wit oga Taiwo Oyedele wey dey head di tax reform committee to ansa some key questions wey dey worry Nigerians.

Na who go pay tax for 2026?

Oga Oyedele say di new tax law na to ease di burden of tax ontop Nigerians.

E say any Nigerian wey dey earn income gatz tell govment if di money wey dey enta dia account na dia own, loan or na anoda pesin get am.

"But if plenti money dey your account and you no tell govment wetin e be, weda na income or no be income, govment fit come to you and say we dey see dis kain money for your account, we tink say na income wey you suppose pay tax."

Oga Oyedele confam say govment get access to information inside your bank accounts.

E add say di new tax law go allow make pipo fit pay for food and oda basic consumption wey dem need evriday.

"Poor pipo wey dey pay tax, di tax dey too much, so dis reform na to take away di burden of tax, so dem go get space to breathe."

"Dem go be able to pay for food, rent, education, accommodation and transportation. Di tax wey dey for all dis basic consumption, we don remove am."

Oga Oyedele say pipo wey no dey make money or dey make small money, dem go dey exempt from di new tax law.

Also, e tok on pipo wey dey dodge tax wey dem suppose pay.

"Inside Nigeria, plenti pipo wey suppose dey pay money dey dodge tax wey be say dem no go even pay anytin, weda dem dey make billions of naira, dem no dey pay, and govment dey allow dem to get away wit not paying."

"Under dis new law, dat no go hapun again. So wen you make pipo wey dey dodge tax to pay di tax, make rich people pay a little bit more, govmemt money go come."

You fit find more details of who go pay tax and who no go pay for here.

Who go pay more tax for 2026?

Oga Oyedele during di interview say Nigeria don introduce di progressive tax system wey be say na di rich go dey pay more tax becos dem earn more

E say for di progressive tax system "pesin wey poor no suppose pay tax, pesin wey dey middle class suppose pay small and pesin wey be upper class dey make plenti of money and suppose to pay more."

"So di money wey govment go collect to run di economy go come from pipo wey dey make plenti of money."

"From 2026, di reform be say you go pay less tax if you be low income earner, you go pay low tax if you be middle class you go pay less tax, but if you be rich pesin, you suppose pay a lit bit more."

Pipo wey send money from abroda go pay tax?

Plenti Nigerians home and abroad dey confused weda if dia family members wey dey outside di kontri send dem money, dem go comot tax.

"If pesin send money from abroad give you, no tax. If pesin give you gifts weda from inside or outside Nigeria, no tax."

"So long as e no be your income for di service wey you render or maybe you just sell something. Like if you dey sell cars, or you dey sell phones, na dat one dey taxable."

Nigerians wey dey work wit foreign companies online go pay tax?

E get anoda tori say Nigeria don partner wit different countries so dem go fit track pipo wey dey work for dem for Nigeria.

Oga Oyedele confam am say na true, say Nigeria don signup for dat intelligence say pipo no go fit dey hide dia income from govment again.

"Nigeria no be di only kontri, more dan 100 kontris all ova di world, dem don agree, dem call am common reporting standard"

"If I see anytin wey your citizens dey do for my kontri I go tell you, you too if you see anytin wey my citizens dey do for your kontri, you go tell me back."

"Na im be say if you dey do sometin online, you dey make cool money wey no bad, but you dey hide am from govment, govmemt go fit find out from dose intelligence from oda kontris.

Oga Oyedele say make pipo dey honest for dia income becos if govment later find out your income and you no dey pay tax, e go come wit penalty and interest.

How about TIN, VAT?

Oga Oyedele say na lie say dem go debit money from bank accounts wey get tax ID and Tax Identification Number (TIN). E call am fake news.

"Anoda fake news be say pipo tok say from next year January, dem go take money from your account becos you get tax ID and TIN, dem go debit your account.

"If you get bank account and you dey use am for business, you suppose get TIN, e no mean say dem go tax you, e just mean say govment dey interested for wetin you dey do, in case you dey make plenti of money, you suppose pay tax."

According to Oyedele, e say di new tax reform no go cause inflation like many pipo dey tok.

"From 2026, dis reform go reduce di price of food weda you dey buy bread or weda you dey buy garri, or yam, price go come down."

Ontop VAT mata, e say dem don comot am from basic consumption items wey Nigerians dey use.

"If you dey do health, pharmaceutical, you dey buy paracetamol or oda stuff like dat, price too go come down."

"Same tin for rent, e no carry VAT anymore, transportation no carry VAT."

Story by Adesola Ikulajolu and Mobolaji Olatunde