Tag Archives: Tax

Chairman of the National Tax Policy Implementation Committee (NTPIC), Joseph Tegbe, has affirmed that Nigeria’s new tax regime is designed to ease the burden on workers and small businesses while strengthening the country’s fiscal sustainability and economic competitiveness.

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Joseph Tegbe, Chairman of the National Tax Policy Implementation Committee (NTPIC), has emphasized that the success of Nigeria’s recently enacted tax reform framework will rely less on the ambition of its legislation and more on the discipline of its execution.

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The National Tax Policy Implementation Committee (NTPIC) has continued its stakeholder engagement program, convening a high-level consultative session with leading tax advisory firms, professional bodies, and institutional representatives to support the effective implementation of Nigeria’s newly enacted tax laws.

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The National Tax Policy Implementation Committee (NTPIC), chaired by Mr. Joseph Tegbe, has commenced structured stakeholder engagements to ensure a humane, inclusive, and well-coordinated implementation of the new Tax Acts, as the country undertakes significant fiscal reforms.

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Nigeria’s new tax identification portal goes live nationwide tomorrow, Friday, January 1, 2026, marking a pivotal moment in the country’s fiscal and financial governance.

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It is not only questionable but an aberration that a nation where over 38million Nigerians remain financially excluded, where trust in institutions is fragile, and where citizens are pressured under the weight of rising living costs, the use of Tax Identification Number (TIN) has been specified as the only option for their bank accounts operation from January 1, 2026 by the Federal Government of Nigeria.

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Ogun State Chamber of Commerce, Industry, Mines and Agriculture (OGUNCCIMA) has faulted the Federal Government’s decision to suspend the proposed implementation of the 15 percent import duty on Premium Motor Spirit (PMS) and diesel imports, saying the move could slow down the nation’s progress toward energy independence and weaken investor confidence in the refining sector.

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In today’s Nigeria, one uncomfortable truth has become glaring that the fiscal authority collects, but it does not build. It borrows, but it does not produce. It taxes, but it does not empower. For years, the Nigerian government has pursued fiscal policies more obsessed with revenue than with results.

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The Federal Inland Revenue Service has dismissed claims that Nigerians must obtain a separate Tax Identification Number before they can own or operate a bank account, insisting that the new framework integrates seamlessly with existing national registries such as the National Identification Number and Corporate Affairs Commission records

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The Corporate Accountability and Public Participation Africa (CAPPA) has commended the Federal Government’s decision to develop a draft policy that will earmark revenues from excise taxes on alcohol, tobacco, and sugar-sweetened beverages (SSBs) for health financing. It described the initiative as a decisive opportunity for the President Bola Ahmed Tinubu administration to leave a legacy of sustainable funding for Nigeria’s …

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