President Bola Tinubu has announced the signing of new tax laws set to take effect in January 2026, aimed at creating a fairer and more equitable tax system that protects low-income earners and promotes economic redistribution.
In a statement shared via an X post on Friday, August 22, 2025, the president emphasized that the reforms are designed to ensure a tax system that does not burden the vulnerable or exacerbate poverty.
“A fair tax system must never punish poverty or weigh down the most vulnerable,” Tinubu stated. “With the new tax laws I recently signed, we have lifted this burden and created a path of equity, fairness, and true redistribution in our economy.”
To enhance transparency and public understanding of the reforms, the government has launched a Personal Income Tax Calculator, accessible at fiscalreforms.ng/index.php/pit.
The tool allows Nigerians to compare their estimated tax obligations under the new laws with their current payments, demonstrating how the changes prioritize progressivity, simplify compliance, and protect low-income earners.
The president urged citizens to engage with the reforms, stating, “Together, we are renewing hope in the Nigeria of our dreams. Take a bet on our country. Bet on Nigeria to work for you, your family, and your community.”
The initiative is part of Tinubu’s broader vision to foster a transparent and inclusive economic system that supports all Nigerians.
The new tax laws and the accompanying calculator are expected to spark widespread discussion as Nigerians assess their impact ahead of the 2026 implementation date.
The government hopes the reforms will build trust in the fiscal system and encourage active participation in the nation’s economic renewal.
Click to signup for FREE news updates, latest information and hottest gists everyday
Advertise on NigerianEye.com to reach thousands of our daily users
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com