…to ease food, healthcare, transport costs from 2026 – Oyedele
Nigeria’s sweeping tax overhaul will leave Africa’s most populous economy with the lowest Value-Added Tax (VAT) rate among its key regional peers while easing pressure on household budgets for essentials such as food, healthcare and transport from 2026, according to Taiwo Oyedele, chairman of the Presidential Fiscal Policy and Tax Reforms Committee.
Speaking Monday in Abuja at a national stakeholders’ discourse hosted by the Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC), Oyedele said the Tax Act 2025 is designed to make the system fairer, simpler and more growth-friendly, countering perceptions that the government is piling new levies on citizens. Instead, the reforms combine lower rates, exemptions and repeals with tighter administration and broader compliance, he emphasised.