Tax reforms will eliminate multiple taxation, create transparent revenue system – ACCI

The Abuja Chamber of Commerce and Industry (ACCI) says the new tax reforms will eliminate multiple taxation and create a business-friendly and transparent revenue system to support growth and competitiveness.

 

Chief Emeka Obegolu, ACCI President, communicated this at a high-level gathering for business leaders and experts on Tuesday in Abuja.

 

 

The meeting, tagged: Abuja Business Tax Roundtable 2025, had the theme “Demystifying the New Tax Laws.”

 

 

 

Obelogu said the ACCI collaborated with some relevant stakeholders to deepen understanding of the new tax reforms taking effect on Jan. 1, 2026.

 

He said that the essence of the event was to address business concerns ahead of the 2026 fiscal transition.

 

Obelogu said the essence of the event was to address business concerns ahead of the 2026 fiscal transition.

 

“The reforms aimed to modernise and harmonise taxation, eliminate multiple taxation, strengthen administration and create a revenue system that is transparent, inclusive and business-friendly.”

 

Obegolu said that President Bola Tinubu had recently signed four major tax bills aimed at modernising administration, harmonising processes and eliminating multiple taxation nationwide.

 

According to him, in recent months, Tinubu has assented to four landmark tax reform bills, which will come into full effect on January 1, 2026.

 

“These laws includes, the Nigeria Tax Bill (Ease of Doing Business), the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill

 

“The laws represent a bold and strategic restructuring of our national tax system,” he said.

 

 

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Obelogu said that businesses still struggled to interpret the implications of the reforms, stressing the need for clarity on compliance requirements, operational adjustments and transition procedures.

 

He said the meeting would provide answers to burning questions from Micro Small and Medium Enterprises (MSMEs), corporate institutions, start-ups and professional service firms across the FCT.

 

Obelogu said that the discussions would examine growth alignment, private sector readiness, digital taxation, compliance innovations and practical structure of the 2026 fiscal framework.

 

He said the communiqué expected from the meeting would guide advocacy, strengthen understanding and support government efforts to ensure smooth deployment of the reforms.

 

The president reaffirmed ACCI’s commitment to promoting constructive policy dialogue, transparency and continuous enlightenment to strengthen Nigeria’s fiscal system and attract investment.

 

Dr Zacch Adedeji, Chairman, Federal Inland Revenue Service (FIRS), said the ongoing tax reforms aimed to support businesses, especially small firms, through zero per cent income tax, capital gains tax exemptions and reliefs that allow companies to offset accumulated losses.

 

Adedeji, who was represented by Mr Victor Kajesomo, Head, Treaties and International Tax Policy Division, FIRS, said that the reforms were a bridge to stronger and effective economy.

 

He said that the reforms introduced new rules for businesses and individuals, and restructure tax administration to simplify compliance and boost revenue generation.

 

Mr Agabaidu Jideani, ACCI Director-General, said the reforms were designed to expand Nigeria’s revenue base, reduce inefficiencies, modernise taxation and create a predictable environment supporting investment and business stability.

 

Jideani said that feedback from businesses showed persistent questions on transition processes, compliance expectations and sector-specific effects of the new tax framework.

 

He appreciated Ferrato Industry Ltd., International Health Management Services Ltd. Abuja Enterprise Agency and FIRS for making the meeting a reality.

 

Speaking, Mr Michael Ango, Executive Chairman, FCT-IRS, said that effective tax administration plays a vital role in enhancing the ease of doing business.

 

According to him, well-structured and modernised tax systems reduce compliance burdens for businesses, foster voluntary compliance, and encourage investments.

 

He encouraged business owners and other stakeholders to support the government for effective implementation of the reform.

 

Ango was represented by Mrs Nneka Nwachukwu, from the FCT-IRS.

 

The Chairperson of the ACCI Women-in-Business group, Mrs Chioma Njoku, said the reforms held significant benefits for women in enterprise, households and the informal sector.

 

According to her, the reviewed tax-exempt thresholds and expanded small-company definitions will help women entrepreneurs reinvest earnings, grow sustainably and transition into the formal economy.

 

Njoku urged gender-responsive implementation, sustained awareness campaigns and simplified processes to ensure that rural and informal-sector women were not excluded from the benefits.