JRB's Olusegun Adesokan Reveals Major Tax Reforms

Mr Olusegun Adesokan, the Executive Secretary of the Joint Revenue Board (JRB), stated that approximately 92% of income earners liable for personal income tax will either pay lower taxes or be exempt under Nigeria's new tax laws, which took effect in January 2026. During a news conference in Abuja, he explained that these reforms are intended to promote fairness, reduce multiple taxation, and enhance revenue administration.

The new tax framework exempts the first N800,000 of annual income from tax, with higher income brackets subject to progressive rates, capped at a maximum of 25%. Adesokan reported a 27% increase in tax revenue collections from January to June 2026 compared to the same period in 2025, attributing this to improved revenue administration and a focus on high-income earners.

Additionally, the National Tax Identification system was developed to provide universal tax identification numbers, facilitating better taxpayer verification and reducing administrative issues.