So the tax reform guy says the new rules will start next year as planned. Taiwo Oyedele, the head of the Presidential Fiscal Policy and Tax Reforms Committee, confirmed the January 1, 2026, launch date for the remaining new laws after a committee visit to President Bola Tinubu in Lagos. He insisted the changes are built to give regular people a break and help the economy.
Oyedele laid out the specifics, claiming the vast majority of workers and small businesses will catch a major tax cut. He stated that 98 percent of wage earners would see their pay-as-you-earn tax either disappear or shrink. He also said 97 percent of small businesses would get a pass on corporate income tax, value-added tax, and withholding tax. Even larger corporations should expect their own tax burden to decrease. The whole point, according to him, is to boost economic growth and make things fairer. The committee apparently feels good about its progress and is just waiting for the start date.
Oyedele laid out the specifics, claiming the vast majority of workers and small businesses will catch a major tax cut. He stated that 98 percent of wage earners would see their pay-as-you-earn tax either disappear or shrink. He also said 97 percent of small businesses would get a pass on corporate income tax, value-added tax, and withholding tax. Even larger corporations should expect their own tax burden to decrease. The whole point, according to him, is to boost economic growth and make things fairer. The committee apparently feels good about its progress and is just waiting for the start date.
