Federal Government Reviews Tax Laws for Better Implementation

The Federal Government has commenced a six-week review of Nigeria's tax reforms to tackle implementation gaps, ambiguities, and unintended consequences that have arisen since the new tax laws took effect on January 1, 2026. The review will focus on key areas such as Value Added Tax thresholds, withholding tax, capital gains treatment, and multiple taxation.

Taiwo Oyedele, the Minister of Finance and Coordinating Minister of the Economy, announced this initiative on Thursday in Abuja during the inauguration of the Technical Subcommittee on Fiscal Policy and Tax Reforms. He emphasized that the review is not intended to reverse the 2025 reforms but to enhance them based on practical implementation experiences.

The government has received 134 submissions from various stakeholders, highlighting issues like VAT thresholds and the need for better coordination among revenue authorities. The findings from this review will contribute to the Finance Bill 2027, aiming to improve investment and competitiveness in Nigeria's economy.