Millions of Nigerians are expected to get life easier starting from 2026 in the new tax reform package designed to reduce the cost of living and support small businesses.
Here’s what’s coming your way
No tax for those earning the minimum wage or below ₦1.2m/year
Tax relief for middle-income earners (up to ₦20m)
Rent relief up to ₦500,000 yearly
Pension, NHIS, and Housing Fund – all tax-free
Small businesses (≤ ₦100m turnover) – no company income tax
Zero VAT on food, rent, education, health services, baby products, farm inputs & even electric vehicles
No stamp duty on transfers below ₦10,000 or salary payments
This is part of the government’s 2024–2026 fiscal roadmap, aimed at empowering citizens, creating jobs, and stimulating growth.
According to Taiwo Oyedele, Chairman of the Presidential Fiscal Policy & Tax Reforms Committee, the goal is simple:
“Make taxation fairer, simpler, and focused on productivity.”
