Executive Chairman of the Federal Inland Revenue Service, Zacch Adedeji, has described the new tax laws set to take effect in January 2026 as Nigeria’s most transformative fiscal reform since independence.

He noted that the reforms, part of President Bola Tinubu’s economic agenda consolidate multiple tax laws into a single document, simplify compliance, and make food, education, shared transport, and agriculture VAT-free, benefiting over 80% of Nigerians.

Adedeji added that small businesses with turnover below ₦50 million will be exempt from tax, while the new structure will foster a more business-friendly environment and strengthen revenue collection efficiency.