News
Federal revenue agencies face shake-up as Tinubu signs tax bills
President Bola Tinubu on Thursday signed into law four tax reform bills, declaring that it signals Nigeria’s readiness for modern economic growth and international investment.
Following Tinubu’s assent to four tax reform bills, key revenue-generating agencies, including the Nigeria Customs Service, Nigerian Upstream Petroleum Regulatory Commission, and several federal ministries and agencies, may lose their tax collection mandates.
The development, which establishes the Nigeria Revenue Service as the sole body responsible for collecting federally chargeable taxes, is expected to trigger major restructuring across the federal revenue architecture.
“We have opened the door for new economic and business opportunities. We are showing that Nigeria is truly ready and open for business. Easy in, easy out,” said Tinubu at the signing ceremony held at the State House in Abuja.
The President acknowledged the complexities involved in tax reforms but praised stakeholders for demonstrating leadership and courage through the process.
Commending the collaborative effort behind the legislative process, he added, “What you have provided is leadership and courage in the face of mounting dispute. Nowhere in the world will tax reforms be any easier.”
According to him, the signing marks a turning point in the nation’s fiscal direction: “We are in transit. We have changed the rule. We have changed some of the misgivings. The question of our tax-to-GDP and all other formulas will be obsolete,” he said.
Thursday’s signing comes nearly two years after President Tinubu, on July 7, 2023, approved the establishment of a Presidential Committee on Fiscal Policy and Tax Reforms.
He appointed Mr Taiwo Oyedele, a Fiscal Policy Partner and Africa Tax Leader at PriceWaterhouseCoopers, as committee chairman. It came hours after he signed four Executive Orders, suspending the five per cent excise tax on telecommunication services and the excise duty escalation on locally manufactured vehicles.
The committee, inaugurated on August 8, 2023, comprised experts from both the private and public sectors. It was mandated to retrofit various aspects of tax law reform, fiscal policy design and coordination, harmonisation of taxes, and revenue administration.
On October 24, 2023, Oyedele presented a 30-day quick-wins report to President Tinubu, recommending the merger of over 200 taxes paid by Nigerian businesses into 10. In the months that followed, the committee undertook extensive engagements with stakeholders, culminating in the tax bills presented to the National Assembly in late 2024.
However, the bills faced resistance at the National Assembly and among some state governors, who rejected their passage. The Comptroller-General of the Nigeria Customs Service, Bashir Adeniyi, earlier said that the proposed tax reform bills are in jurisdictional conflict with the NCS and threaten the agency’s existence.
At the NASS, the bills sparked heated debate, particularly around the revenue-sharing structure, which governors from the North opposed. They warned that a shift toward derivation-based allocations, especially with VAT, could tilt fiscal balance in favour of southern states with stronger consumption bases.
After prolonged dialogue, the VAT rate remained at 7.5 per cent, and a new exemption was introduced to shield minimum wage earners from personal income tax. By May 2025, the National Assembly passed the harmonised versions with broad support, driven in part by pressure from economic stakeholders and international observers who welcomed the clarity and efficiency the reforms promised.
The four bills include the Nigeria Tax Bill (Fair Taxation), Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.
According to the President, “They will unify our fragmented tax system, eliminate wasteful duplications, cut red tape, restore investor confidence, and entrench transparency and coordination at every level.”
Tinubu added that the long-standing burden of Nigeria’s tax structure had unfairly weighed down the vulnerable while enabling inefficiency. Tinubu emphasised that the signing marks the beginning of Nigeria’s tax evolution.
Meanwhile, the Executive Chairman of the National Revenue Service (formerly the Federal Inland Revenue Service), Zacch Adedeji, has announced that the newly signed tax reform bills will take effect on January 1, 2026.
Adedeji, who briefed State House correspondents after Tinubu signed the four tax bills into law, said this would give the administration six months for planning, education, and alignment with the fiscal calendar.
He explained, “Based on best practices globally, because when you have this kind of change, it takes time for all the stakeholders, participant operators, and even the regulator to change the system. So with the magnanimity of the National Assembly, Mr. President, the effective date will be January 1, 2026, by the special grace of Almighty God.”
Adedeji stressed the importance of launching the reforms at the start of a new calendar year, saying, “When you have this kind of change, it’s not what you do mid-year. Because if the application of the law is better, you start from the beginning of the year.
“So effective dates, by God’s grace, will be first of January 2026,” he added. This timeline, the revenue chief explained, allows for adequate sensitisation, planning, and harmonisation with government budgeting frameworks.
For his part, the Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, described the newly signed tax laws as “pro-poor,” saying they will ease the burden on low-income earners, small business owners, and everyday Nigerians.
He said, “More than 1/3 of workers in both the private and public sectors will now be exempted completely from PAYE. They will not have to pay personal income tax. Small businesses, over 90 per cent of small and micro, nano businesses, we no longer have to worry about paying corporate income tax or charging VAT or even deducting withholding tax or paying PAYE for their employees.”
Oyedele added that the reforms will leave “more money in the hands of the ordinary Nigerian to take care of their daily needs,” and announced a new zero‑rate VAT framework on essential items.
“Any traces of VAT in food, in education, in medical and health care are now removed completely, so we should see prices of those items come down,” Oyedele explained.
He also emphasised relief for sectors where households spend most, clarifying that “transportation, accommodation and housing is exempt from VAT… collectively account for more than 80 per cent of where Nigerians spend their money. That’s a huge relief for them.”
Appearing as a guest on Channels Television Politics Today programme on Thursday, Oyedele explained that the current system of revenue was opaque, noting that the new system, operated by the Nigerian Revenue Service will require the government to be more transparent and transparent.
“The current system is opaque. And usually, if you’re hiding stuff from me, I need to be suspicious of you. It’s hard to trust you if you’re not open and transparent. That’s exactly what we have today in Nigeria. So, these new laws require that government should be more transparent. There are requirements around the standard of reporting, the timeliness of those reporting, and making them accessible to the public, by the agencies like the Nigerian Revenue Service.
“(We’re changing) from FIRS to NRS, Nigerian Revenue Service. And that Nigerian Revenue Service will then work in collaboration with subnationals,” he said. The chairman explained that the NRS will operate a digitised system that will collect data like National Identity Numbers, phone numbers, and bank information, to prevent tax evasion by high-income individuals.
Oyedele emphasised that the new tax reform bills were designed with three principal objectives in mind, including ensuring that they were people-centric, efficiency-driven, and growth-focused.
Highlighting where revenue would come from, Oyedele said, “Two places where money would come from are tax evasion. We estimate that the tax gap, which is how much we are collecting and how much we could be collecting, is in the region of 70 per cent, so we are only collecting 30 per cent. We want to close that gap. Imagine if we just close it by another 30 per cent, that is double what we collect now.
“Number two is that we have lots of wasteful incentives. They are not just wasteful, they are also distortionary, so we lose money and create problems for the economy. So, we fixed that as well, so that’s money coming to the government without raising the tax on the people. Then there is the one to do with just ensuring that government resources are more effectively utilised. These areas combined will be where we will initially make money from.
“Ultimately, the money will come from the economy growing. If we get 10 per cent of $200bn, it is more than 100 per cent of one billion. That is where the money is coming from. It is not about going to the person who is trying to survive and asking them to give; they have nothing more to give.”
The Chairman of the Senate Committee on Finance, Senator Sani Musa, stated that the newly signed tax reform laws reflect the true aspirations of Nigerians and are the product of broad consultations, especially with stakeholders who initially opposed the reforms.
Addressing journalists at the signing, Musa acknowledged the initial public backlash—particularly from the northern—but said the National Assembly approached the task with balance and diligence.
He added, “With the consultations and the painstaking nature of the legislative processes that we’ve taken, I believe we are bringing out, we brought out bills that seek the aspirations of Nigerians.
“And what are those aspirations, just as has been highlighted by the Chairman of the Presidential Task Force, we consider the less privileged in terms of earnings, and see that we don’t add burdens on them.”
The senator noted that one of the significant breakthroughs of the legislative process was the harmonisation of Nigeria’s fragmented and duplicative tax system.
He said the review also extended to vital sectors such as oil and gas and the Export Processing Zones, ensuring the laws supported industrial growth and competitiveness.
Chairman of the House Committee on Finance, Hon. James Faleke, described the passage of the bills as a once “mission impossible” task made successful through national cooperation.
Faleke commended the efforts of lawmakers, governors, and the Nigerian public for what he called a united effort to overhaul the country’s tax regime. He emphasised that the reforms do not introduce new tax burdens but rather expand the efficiency of collection and plug leakages.
The Nigeria Employers’ Consultative Association on Thursday lauded President Bola Tinubu’s assent to four major tax reform bills, describing it as a significant step towards ending over 10 years of crippling multiple taxation on businesses in Nigeria.
Speaking on the sidelines of the 4th Employers Summit in Abuja, NECA’s Director-General, Adewale-Smatt Oyerinde, said the legislation, which harmonises taxes, levies and fees across all levels of government, was a long-awaited relief for the Organised Private Sector.
“Our immediate reaction is ‘uhuru’, we thank God because we have canvassed this for a long time,” Smatt-Oyerinde told journalists. “The challenges of multiplicity of taxes, levies and fees have been a major issue for the Organised Private Sector for over 10 years.”
The NECA boss noted that while the assent marks a major milestone, the true test lies in effective implementation. “The main work is implementation, and it will come with its own challenges that we are not all aware of right now,” he said. “But we’re happy that he has signed it. The reality for organised businesses in the context of harmonised taxes, levies and fees has begun.”
Smatt-Oyerinde stressed that the issue was not only about tax rates but also the chaotic and inefficient method of collection that had long discouraged business growth.
“The efficiency of tax collection has been a recurring concern for every rational stakeholder. That was why we supported the establishment of the Presidential Committee on Fiscal Policy and Tax Reforms, which did a very humane and consultative job with the bill,” he explained.
He added that the bills are interconnected and were designed to stimulate growth across all levels of the economy, from micro, small and medium enterprises to large corporations.
“You don’t grow from the top. You grow by promoting businesses. Some parts of the reform affect MSMEs, others SMEs, big businesses, and individuals. It’s a chain reaction that we believe will catalyse the entire economy,” he added.
NECA President, Dr Ifeanyi Okoye, in his remarks, echoed similar sentiments, stressing that the reforms must not end with legislation but must lead to practical improvements for Nigerian businesses.
“For over six years, NECA has remained committed to promoting a stable, predictable, and enabling policy environment where all businesses, regardless of sector or size, can thrive,” Okoye said.
He challenged the federal government to show commitment to implementing actionable outcomes from the summit, warning against treating the platform as “another talk shop.”
“This must be a catalyst for the policy coherence and reform implementation that businesses, and indeed, the country urgently need,” he said.
Smatt-Oyerinde further disclosed that NECA had worked closely with the Presidential Committee throughout the drafting of the tax bills and would remain actively engaged with the Federal Inland Revenue Service, the lead agency for implementation.
“We are ready to deepen our collaboration with FIRS to ensure that these reforms work in practice, not just on paper,” he said.
Following the signing of four major tax reform bills by President Bola Tinubu on Thursday, the Special Adviser to the President on Energy, Olu Verheijen, has revealed that the new laws have codified four key executive orders aimed at stimulating investment in Nigeria’s oil, gas, and clean energy sectors.
She said the act has already helped unlock over $6 billion in fresh investments into Nigeria’s oil and gas industry.
Reacting in a post on her official X (formerly Twitter) handle shortly after the presidential announcement, Verheijen described the signing as a “historic moment” and a clear demonstration of the administration’s commitment to driving energy sector reforms through long-term policy clarity.
She explained that the act enshrines into law Presidential Directive 40 and three other key executive instruments. Among the codified executive orders are: Presidential Directive 40: A framework for fiscal incentives targeting upstream, midstream gas, and deep offshore oil projects.
“The 2024 VAT Modification Order: This grants value-added tax exemptions for Compressed Natural Gas, Liquefied Petroleum Gas, and other clean energy products.
“The 2025 Upstream Petroleum Cost Efficiency Order: Designed to reduce operational overheads in the upstream oil sector. Other incentive orders focused on energy transition and infrastructure localisation.
“These reforms have already helped unlock over $6bn in new Oil & Gas investments. With their codification, the administration has delivered long-term certainty and regulatory clarity, ensuring these critical incentives are protected from future policy reversals,” Verheijen stated.
She praised the development as a strategic win for the public and private sectors, stressing that the energy industry now has a legal framework that assures investors of continuity regardless of future political changes.
The Niger Delta Chamber of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA) has rejected claims that it appropriated or “stole” the idea of Niger Delta Economic and Investment Summit from another organisation whose application was reportedly pending before the Federal Ministry of Trade.
NDCCITMA considers the allegation misleading and wishes to set the record straight.
The concept of Niger Delta Economic and Investment Summit is a broad and widely recognised platform used globally to bring together government, the private sector, investors, businesses, development partners and other stakeholders to deliberate on economic growth and development. The use of the term “Economic Summit” does not, in itself, establish exclusive ownership of the concept by any individual or organisation.
More importantly, the chronology of events does not support the allegation being made against NDCCITMA.
While the said application was reportedly still pending before the Ministry of Trade as at September 2025, NDCCITMA had already gone through the appropriate processes and received approval from the Ministry of Trade in August 2025.
NDCCITMA did not rely on, copy, or appropriate the pending application of any other party in arriving at its name or identity
It is also important to distinguish between a concept and legally protected intellectual property, such as a registered trademark, proprietary material or other enforceable intellectual property right.
NDCCITMA remains committed to conducting its activities in accordance with applicable laws and regulatory requirements.Most importantly, in Suit No: FHC/PHC/CS/57/2026 filed on same subject matter in Portharcourt by the petitioner, the learned Judge had restrained the plaintiff from further interfering with the Summit being planned by the NDCCITMA. NDCCITMA will continue respect the rule of law
We therefore urge the public, stakeholders, the media to disregard any narrative unless such claims are supported by verifiable facts and relevant legal documentation.
NDCCITMA firmly rejects the allegation and maintains that its activities and identity were developed and pursued independently and through the appropriate regulatory channels.
The organisation remains focused on its mandate of promoting commerce, industry, trade, agriculture, investment and sustainable economic development across the Niger Delta region.
Signed:
Management
Niger Delta Chamber of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA)
The Cross River State Commissioner for Power and Renewable Energy, Prince Eka Williams Abang, has died at a hospital in Abuja.
Williams reportedly died suddenly on Saturday, September 12, 2026, while receiving medical treatment.
His death was announced on Sunday by his brother, Nkang William, who expressed shock over the sudden loss.
The deceased was described by family members and associates as a dedicated public servant whose death had left a significant void.
A former councillor representing Abo Ward in Boki Local Government Area, Pius Kejuo Osang, said he was still struggling to understand the development.
Late Abang
“I don’t understand, I was with him on Tuesday, I slept in his hotel,” Osang said.
Michael Gabriel Jr., Executive Media Assistant to Senator John Owan-Enoh, Minister of State for Industry, also described Williams as “a dedicated public servant and a good man.”
He said Ikom Local Government Area had lost a committed public servant, adding that Williams’ life of service, humility and impact would remain in the memories of those he touched.
The commissioner’s death has thrown Cross River’s political and public service circles into mourning, with condolences pouring in for his family, colleagues and associates.
The Board Chairman of the Niger Delta Chambers of Commerce, Industry, Trade, Mines and Agriculture, NDCCITMA, Ambassador Idaere Ogan, has identified the Niger Delta Development Commission, NDDC, and the governments of the nine Niger Delta states as development partners in building a sustainable regional investment ecosystem.
Addressing newsmen at the Obi Wali Cultural Centre in Port Harcourt, Ogan reaffirmed NDCCITMA’s commitment to successfully hosting the Niger Delta Economic and Investment Summit from September 15 to 17 in the Rivers State capital.
The NDCCITMA Chairman said the Summit was a strategic, private-sector-led platform to mobilise investment and unlock the Niger Delta region’s economic potential, anchored on the theme: “Driving Investment, Innovation and Industrial Growth in the Niger Delta.”
He stated: “Our vision is to bring together the nine Niger Delta states, the Federal Government, the Niger Delta Development Commission, organised private sector, domestic and international investors, development finance institutions, multilateral organisations, financial institutions, project developers and other strategic partners around a common objective: To transform the Niger Delta from a predominantly resource-dependent economy into a diversified, productive, industrialised and globally competitive regional economy.”
According to Ogan, the Summit was designed not merely as another conference, but as an investment and transaction platform, stating: “I dare say that the region possesses opportunities far beyond crude oil.
“From gas and petrochemicals to agriculture and agro-processing; maritime and blue economy; manufacturing; aviation and transportation; renewable energy; tourism; digital economy; logistics; infrastructure and financial services, the Niger Delta possesses the resources and market opportunities required to become one of Africa’s leading investment destinations.”
We intend to showcase strategic investment opportunities capable of transforming the regional economy, including agro-industrial and oil-palm value chains, gas utilisation and gas-based industries, regional transportation and aviation, maritime infrastructure, industrial and logistics hubs, renewable energy, manufacturing, skills development, digital infrastructure and other high-impact projects.
The Counsel to the Legal Representative of NDCCITMA, Mr Sammie Somiari, SAN, affirmed that the Summit organiser was committed to conducting its activities in accordance with applicable laws and regulatory requirements.
He noted that in a suit filed by the founder of NDEIS, Kenule Nwiya Jnr, over an alleged trademark infringement, the court restrained the plaintiff from further interfering with the Summit being planned by the NDCCITMA.
Somiari assured that the Summit would proceed as planned, as there was no legal encumbrance to the economic and investment platform.
Also speaking, the NDDC Director of Commercial and Industrial Development, Mrs Lyna Okara, observed that the Summit would promote stronger economic integration among the nine Niger Delta states.
She noted that the investment forum would produce tangible outcomes: investment commitments, project partnerships, financing opportunities, policy recommendations, and clearly defined implementation frameworks.
Seledi Thompson-Wakama
Director, Corporate Affairs
September 12, 2026
The Enugu State Independent Electoral Commission (ENSIEC) says the commission is over 90 per cent ready for the forthcoming Sept. 26 Local Government Council Elections in Enugu State.
ENSIEC had scheduled elections into 17 Chairmanship and 260 Councillorship positions in the state.
The Executive Chairman of ENSIEC, Prof. Christian Ngwu, disclosed this on Monday in Enugu.
Ngwu noted that the commission was already putting finishing touches on every other arrangement and training ahead of the polls.
“It is only few things remaining and we are finalising and putting finishing touches on them,” he said.
The chairman said that the commission had trained the trainers of the ad hoc staff, already advertised for the ad hoc staff, while their training would be coming in few days.
He said that “almost all materials for the elections are ready”.
Ngwu noted that the “non sensitive materials will be leaving ENSIEC headquarters in Enugu latest Thursday, Sept. 17, to council headquarters”.
According to him, the sensitive materials will be received and kept in a safe place for now.
“We will soon concluded arrangement with transport unions/companies to ensure adequate logistics facilities.
“The commission is already having a fruitful conclusion of security arrangement with security agencies in the state with the Nigeria Police as lead agency,” he said.
Ngwu said that the Independent National Electoral Commission (INEC) would soon avail ENSIEC the authentic voters register of the state to work it.
“I am calling on residents of Enugu State to troop out en mass to cast their votes for their preferred candidates without fear or fear.
“ENSIEC will continue to provide a level playing field for all candidates in the elections.
“The commission will provide a conducive and secure environment as well as ensure a peaceful, hitch-free, transparent and credible elections come Sept. 26 in the state,” he said.
He said that the commission had pasted notice of election in local government areas, which contained awareness on how to vote correctly and positive behavioural conduct expected during and after casting one’s vote.
It would be recalled that candidates from 11 political parties would be participating in the polls.
ENSIEC had two weeks ago concluded train-the-trainer workshop for its officials, which included: 17 Electoral Officers (EOs) for each of the 17 council areas, 17 Assistant Electoral Officers, seven directors, five commissioner and an administrative secretary.
Hon. Chief Kevin Tobias Chukwu, the NDC candidate for the Ezza South/Ikwo Federal Constituency in the House of Representatives, has called on Nigerian leaders to rediscover the country by spending their vacations and leisure time within Nigeria.
Chukwu made the call while reacting to former Anambra State Governor and Labour Party presidential candidate, Peter Obi’s position that Nigerian presidents should spend their vacations in the country.
He said the issue should be viewed beyond partisan politics, arguing that leaders must demonstrate confidence in Nigeria if they expect citizens and investors to do the same.
According to him, frequent foreign vacations by political leaders send the wrong message to Nigerians, particularly when the government continues to encourage citizens to invest in the domestic economy.
“We cannot continue to export our wealth and import our enjoyment while asking Nigerians to believe in Nigeria,” he said.
Chukwu suggested that a president could choose to spend holidays in tourist destinations such as Obudu, Yankari, Lagos, Enugu, Ebonyi, Plateau and Akwa Ibom, among others.
He said such visits would boost local businesses, including hotels, restaurants, transport operators, farmers, artisans and other small businesses, while also increasing public confidence in Nigeria’s tourism potential.
The NDC candidate also highlighted the security implications, saying a president who can comfortably spend time in different parts of the country would send a strong signal about the safety and viability of those areas.
“This should go beyond Peter Obi and beyond party politics. It is about a new culture of leadership,” Chukwu said.
He added: “If we truly want Nigerians to believe in Nigeria, those who lead Nigeria must demonstrate that belief themselves. Charity, they say, begins at home.”
-
News3 days agoFCC Urges Enugu Youths to Prepare for Federal Job Opportunities
-
Politics6 hours ago2027: Odii: I’ll Attract ₦2tn Investment to Ebonyi in Six Months
-
Crime6 hours agoGunmen Attack Commercial Bus, Kill Nine Passengers
-
Politics5 days agoAnambra APC Sidelined Over First Lady’s Visit, Says Chairman Anosike
-
Crime5 days agoWoman Recounts Rape By Nigerian Jailed 17 Years In UK
-
News5 days agoEnugu: Iji Nike Sets Sept 13 For New Yam Festival
-
News2 hours agoSept. 26 Polls: ‘ENSIEC is over 90% ready’ – Chairman
-
News1 day agoHotel Building Collapses in Enugu Kills One, Traps Workers