Dr. Mohammed Shehu, Chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), has announced that the implementation of new tax laws beginning January 1, 2026, will reduce compliance burdens and create a more predictable fiscal environment for Nigeria.
Shehu made the remarks at the National Stakeholders’ Discourse themed “Enhancing Fiscal Efficiency and Revenue Growth under the Nigeria Tax Act, 2025” in Abuja. The forum focused on four key legislations: the Nigeria Tax Act, 2025; the Nigeria Tax Administration Act, 2025; the Nigeria Revenue Service (Establishment) Act, 2025; and the Joint Revenue Board (Establishment) Act, 2025.
Highlighting challenges in Nigeria’s fiscal landscape, Shehu noted that revenue volatility due to fluctuating oil prices has long constrained government planning. “High debt service obligations consume a large proportion of government revenue, limiting public investment and threatening fiscal sustainability across all tiers of government,” he said.
According to Shehu, the new tax laws aim to harmonize tax administration across regions, streamline revenue collection, and reduce compliance burdens for individuals and businesses. The stakeholders’ forum was designed to ensure all parties, including organized labour, understand the implementation process.
Shehu also revealed that the Federation Account recorded N23.058 trillion in accruals during the first ten months of the year, noting that while policy changes have improved the economic situation, many citizens have yet to feel the benefits. He emphasized that RMAFC remains committed to safeguarding national revenue through enhanced monitoring, forensic audits, collaboration with sub-national governments, and transparency reforms.
Ambassador Desmond Akawor, Chairman of RMAFC’s Fiscal Efficiency and Budget Committee, said the nation is at a critical juncture, with the new tax laws expected to determine the economy’s stability and resilience for years ahead.
Janice Ibrahim, National President of the National Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), added that the laws will foster fiscal stability and strengthen revenue mobilization. “A modern, efficient and equitable tax system is indispensable to economic growth. When tax policies are clear and predictable, businesses can invest, expand, create employment, and contribute more meaningfully to national revenue,” Ibrahim said.
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