By Jemimah Wellington, JKNewsMedia Correspondent PUBLIC DEBATE over the repeal and re-enactment of the 2024 and 2025 Appropriation Acts has drawn a response from the Director General of the Budget Office of the Federation, Tanimu Yakubu, who says recent commentary has raised claims of constitutional breach, fiscal illegality and restricted ac...
By Joke Kujenya PLANS TO begin implementation of Nigeria’s new tax laws on January 1, 2026, will proceed as scheduled despite mounting opposition and public debate, the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms (PCFPTR), Taiwo Oyedele, has said. Oyedele spoke on Friday in Lagos while briefing journalists after a ...
By Joke Kujenya FEDERAL REVENUES for 2025 are collapsing to N10.7tn, far below the N40.8tn originally projected, Finance Minister Wale Edun told lawmakers this week, exposing a gap of nearly N30tn. Edun said weak oil and gas receipts, shortfalls in petroleum profit tax and company income tax, and gaps in non-oil revenue are largely responsibl...
By Jemimah Wellington, JKNewsMedia Correspondent BUDGET IMPLEMENTATION timelines are set to shift to March 31, 2026, under a formal request transmitted by President Bola Tinubu to the House of Representatives seeking legislative approval to extend the lifespan of the 2025 Appropriation Act and curb overlapping fiscal cycles. The request was co...
By Jemimah Wellington, JKNewsMedia Correspondent MANDATORY TAX identification will become a condition for operating bank accounts in Nigeria from January 1, 2026, following a federal government directive tied to new tax administration laws. The requirement applies to every taxable Nigerian and forms part of a broader effort to strengthen tax ...
By Jemimah Wellington, JKNewsMedia Correspondent PUBLIC ANXIENTY around Nigeria’s ongoing tax reforms drew a firm rebuttal on Friday as claims that government agencies plan to remove money directly from citizens’ bank accounts were described as false and dangerous. Speaking at a media workshop on the new consolidated tax law, the Chairman of t...
By Jemimah Wellington, JKNewsMedia Correspondent THE 2026 FISCAL year will see a major expansion as the Lagos State government presented its N4.237trillion ‘Budget of Shared Prosperity’ proposal to the House of Assembly. Marking an increase of over N1 trillion compared with the 2025 budget of N3.005trillion, Governor Babajide Sanwo-Olu outlin...
By Joke Kujenya WITH EFFECT from 1 January 2026, tax reliefs are coming for millions of Nigerians as the Federal Government confirmed that fifty exemptions and incentives under the new tax reform laws will commence. The Presidential Fiscal Policy and Tax Reforms Committee, chaired by Taiwo Oyedele, said the measures are designed to reduce the...
By Joke Kujenya PAINFUL BUT necessary adjustments in Nigeria’s tax system are beginning to yield measurable results as the Presidential Fiscal Policy and Tax Reforms Committee (PFPTRC) Chairman, Taiwo Oyedele, said the government advances a sweeping national tax overhaul designed to simplify levies, cut corporate rates, and promote fairness. ...
By Joke Kujenya MAJOR CHANGES to Nigeria’s tax structure are expected from January 2026 as the Presidential Committee on Fiscal Policy and Tax Reforms confirmed that about 98 percent of Nigerians would either be exempted from the Pay-As-You-Earn (PAYE) tax or have their rates reduced to the lowest minimum. Chairman of the Committee, Mr. Taiwo...
