The Federal Government has unveiled a comprehensive tax reform package aimed at simplifying compliance, reducing the burden on small businesses and low-income earners, and strengthening Nigeria's revenue system during a sensitization forum held at the International Conference Centre, Enugu.

Mrs. Chioma Nweze, the Senior Special Assistant to the President on Community Engagement, Southeast zone, emphasized that President Bola Tinubu's administration is determined to make taxation fairer and more beneficial to ordinary Nigerians.

"Our women, especially market women, must understand why government collects tax, what government does with it, and how they should pay without exploitation," Nweze stated during the forum.

She highlighted the administration's economic reforms, noting that "The president has removed fuel subsidy, unified the exchange rate, and increased allocations to states. These reforms will ensure more projects are delivered to benefit citizens."

Key Benefits for SMEs and Low-Income Earners

Barrister Chukwumeka Eze, Chairman of the Tax Appeal Tribunal, Southeast Zone, explained that the four new tax acts signed into law on June 26, 2025, have consolidated more than 20 previously scattered tax laws.

According to Eze, businesses with an annual turnover below N50 million are now exempted from Companies Income Tax and Value Added Tax, while minimum wage earners will no longer pay personal income tax.

"This is progressive taxation. The rich will now pay more within their means, while the poor will be protected. The days when wealthy individuals paid little tax are gone," Eze emphasized.

The reforms also introduced a Tax Dispute Resolution Mechanism allowing citizens to lodge complaints free of charge, with resolutions provided within 7–14 days.

Supporting Economic Growth Through SMEs

Mr. Innocent Chinyere Ohagwa, a tax professional and Chartered Accountant, described the reforms as necessary to strengthen Nigeria's fiscal base, calling SMEs the "lifeblood" of the economy.

"SMEs account for more than 90% of businesses and nearly 60% of jobs in Nigeria. By removing multiple taxation and unfair levies, government is giving them space to grow, create wealth, and support economic diversification," he explained.

Dr. Zino Ugboma, representing the Nigerian Education Loan Fund (NELFUND), highlighted how tax revenues are being channeled to expand access to education through loans for undergraduates in universities, polytechnics, and colleges of education.

"This is a direct way of showing that taxation is not just about collection, but also about giving back to the people," Ugboma said.

The forum, which drew officials of the Federal Inland Revenue Service (FIRS), women leaders, professionals, and community stakeholders, concluded with a call for stronger collaboration to ensure the success of the reforms.

Participants, including Mrs. Nnenna Otuonye, commended President Tinubu for pushing a fairer system and urged Southeast residents to embrace compliance for economic growth.

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