The Abuja Chamber of Commerce and Industry (ACCI) has hailed the new tax reforms as a major step toward eliminating multiple taxation and creating a business-friendly, transparent revenue system designed to support growth and enhance competitiveness.
Speaking at the Abuja Business Tax Roundtable 2025, themed “Demystifying the New Tax Laws,” ACCI President Chief Emeka Obegolu emphasized the collaborative efforts with key stakeholders to deepen understanding of the reforms scheduled to take effect on January 1, 2026. The gathering brought together business leaders, industry experts, corporate institutions, start-ups, and professional service firms to address concerns ahead of the 2026 fiscal transition.
“The reforms are designed to modernize and harmonize taxation, eliminate multiple taxation, strengthen administration, and create a revenue system that is transparent, inclusive, and business-friendly,” Obegolu stated. He noted that President Bola Tinubu recently signed four major tax bills, including the Nigeria Tax Bill (Ease of Doing Business), the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill. These laws represent a bold restructuring of Nigeria’s national tax system and aim to simplify compliance while boosting investment opportunities.
While the new measures are seen as transformative, businesses have expressed challenges in understanding the practical implications of the reforms. The roundtable therefore focused on providing clarity on compliance requirements, operational adjustments, and transition procedures. Discussions explored growth alignment, private sector readiness, digital taxation, and innovative compliance strategies to ensure smooth deployment of the 2026 fiscal framework.
Dr. Zacch Adedeji, Chairman of the Federal Inland Revenue Service (FIRS), highlighted the reforms’ benefits for businesses, particularly small firms. He noted provisions such as zero per cent income tax, capital gains tax exemptions, and reliefs to offset accumulated losses, which aim to strengthen the economy and simplify tax administration.
ACCI Director-General Mr. Agabaidu Jideani added that the reforms are intended to expand Nigeria’s revenue base, reduce inefficiencies, modernize taxation, and create a predictable environment that encourages investment and business stability. Feedback from businesses indicated ongoing questions regarding transition processes, compliance expectations, and sector-specific impacts, underscoring the importance of forums like the roundtable.
Other speakers reinforced the positive implications of the reforms. Mr. Michael Ango, Executive Chairman of FCT-IRS, emphasized that effective tax administration reduces compliance burdens, fosters voluntary compliance, and encourages investment. Mrs. Chioma Njoku, Chairperson of the ACCI Women-in-Business group, highlighted the significance of the reforms for women entrepreneurs, households, and the informal sector. She urged gender-responsive implementation, awareness campaigns, and simplified processes to ensure inclusive benefits, particularly for rural women and small business owners.
As Nigeria prepares for the full rollout of these landmark reforms, the ACCI reaffirmed its commitment to constructive policy dialogue, transparency, and continuous education, aimed at strengthening the fiscal system and attracting both local and international investment.