New Tax Laws Set to Ease Burden on Nigerian Small Businesses

by Hannah December 27, 2025

written by Hannah December 27, 2025 2 comments

The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture welcomed the new tax reforms, saying they will help small businesses grow. Pastor Henry Adesaoye, President of NACCIMA in Ondo State, spoke at the Ondo City Entrepreneurs’ Dinner on Friday evening. He said the Nigeria Tax Act and Tax Administration Act, due to start on January 1, 2026, will reduce financial pressure on ordinary citizens and businesses, especially in the informal sector.

Adesaoye explained that the reforms aim to make low- and middle-income earners pay less while high-income earners contribute more fairly. “The new policy will help small businesses and encourage transparency and accountability in the system, which is good for the economy,” he said. He added that the laws will protect small operators, block revenue leakages, expand the tax net, and ensure the rich meet their obligations.

He urged the government to invest tax revenue in infrastructure to build trust and give citizens hope. The dinner, organised by NACCIMA Youth Entrepreneurs and the Ondo Kingdom Chambers of Commerce, Industry, Mines and Agriculture, brought young business owners together to share ideas and overcome challenges.

Adesaoye stressed the importance of building strong customer relationships, knowing areas of strength, and earning trust for success. Mr Sam Adegbola, Coordinator of the Ondo Kingdom Chambers, announced plans for a business summit in July 2026 to connect youths with economic opportunities. The association also runs a free farm training programme, which has trained about 65 youths since October 2025, with plans to expand next year.

Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, said after meeting President Bola Tinubu that the changes focus on relief rather than quick revenue gains. Despite some controversy over alleged changes in the official versions, the reforms seek fairness, growth, and support for small businesses that drive much of the economy.