Abuja: The Abuja Chamber of Commerce and Industry (ACCI) has announced that new tax reforms will eradicate multiple taxation and establish a transparent and business-friendly revenue system, thereby supporting economic growth and competitiveness. Chief Emeka Obegolu, the President of ACCI, spoke at a high-level meeting for business leaders and experts in Abuja, emphasizing the positive impact of these reforms.
According to News Agency of Nigeria, the meeting, named the Abuja Business Tax Roundtable 2025, aimed to enhance understanding of the new tax reforms, set to take effect on January 1, 2026. Obegolu highlighted that the event was organized to address business concerns before the 2026 fiscal transition, focusing on modernizing and harmonizing taxation, strengthening administration, and creating a revenue system that is transparent, inclusive, and business-friendly.
President Bola Tinubu has recently signed four significant tax bills to modernize administration, harmonize processes, and eliminate multiple taxation across the nation. Obegolu noted that these reforms, which include 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, will come into full effect on January 1, 2026.
Obegolu recognized the challenges businesses face in interpreting the implications of these reforms, stressing the need for clarity on compliance requirements, operational adjustments, and transition procedures. The roundtable aimed to provide answers to pressing questions from MSMEs, corporate institutions, start-ups, and professional service firms in the Federal Capital Territory.
The discussions focused on growth alignment, private sector readiness, digital taxation, compliance innovations, and the practical structure of the 2026 fiscal framework. The communiqu© from the meeting is expected to guide advocacy, strengthen understanding, and support government efforts for the smooth deployment of the reforms.
Dr. Zacch Adedeji, Chairman of the Federal Inland Revenue Service (FIRS), noted that the ongoing tax reforms are designed to support businesses, particularly small firms, through measures such as zero percent income tax, capital gains tax exemptions, and reliefs that allow companies to offset accumulated losses. Represented by Mr. Victor Kajesomo, Adedeji emphasized that these reforms aim to simplify compliance and boost revenue generation.
Mr. Agabaidu Jideani, ACCI Director-General, pointed out that the reforms aim to expand Nigeria’s revenue base, reduce inefficiencies, modernize taxation, and create a predictable environment that supports investment and business stability. Feedback from businesses has highlighted persistent questions regarding transition processes, compliance expectations, and sector-specific effects of the new tax framework.
Mr. Michael Ango, Executive Chairman of FCT-IRS, stressed the importance of effective tax administration in enhancing the ease of doing business, reducing compliance burdens, fostering voluntary compliance, and encouraging investments. He called on business owners and stakeholders to support the government for effective reform implementation.
Mrs. Chioma Njoku, Chairperson of the ACCI Women-in-Business group, highlighted the significant benefits the reforms hold for women in enterprise, households, and the informal sector. The reviewed tax-exempt thresholds and expanded small-company definitions will help women entrepreneurs reinvest earnings, grow sustainably, and transition into the formal economy.