ACCI: New tax reforms will end multiple taxation, boost business growth
The Abuja Chamber of Commerce and Industry (ACCI) says the new tax reforms will eliminate multiple taxation and introduce a more transparent, business-friendly revenue system that supports growth and competitiveness.
ACCI president, Emeka Obegolu, said this on Wednesday at a high-level meeting of business leaders and experts in Abuja. The event, tagged Abuja Business Tax Roundtable 2025, had the theme “Demystifying the New Tax Laws.”
Obegolu said the chamber convened the forum in collaboration with key stakeholders to deepen understanding of the new tax framework coming into force on January 1, 2026. He noted that the session was designed to address concerns raised by businesses ahead of the 2026 fiscal transition.
“The reforms aim to modernise and harmonise taxation, eliminate multiple taxation, strengthen administration, and create a revenue system that is transparent, inclusive, and business-friendly,” he said.
Obegolu added that President Bola Tinubu had recently signed four major tax bills that overhaul the national tax structure. These include the Nigeria Tax Bill (Ease of Doing Business), Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.
“These laws represent a bold and strategic restructuring of our national tax system,” he said, noting that many businesses were still struggling to interpret the implications of the reforms and required clarity on compliance requirements, operational adjustments, and transition procedures.
He said the roundtable would provide answers to concerns raised by micro, small and medium enterprises (MSMEs), corporates, start-ups and professional service firms across the FCT. Discussions, he added, would focus on growth alignment, private-sector readiness, digital taxation, compliance innovations, and the technical structure of the 2026 fiscal framework.
Obegolu said the communiqué expected from the meeting would guide advocacy efforts, strengthen understanding, and support government implementation.
He reaffirmed ACCI’s commitment to promoting policy dialogue, transparency, and continuous enlightenment to strengthen Nigeria’s fiscal system and attract investment.
In his remarks, Zacch Adedeji, chairman of the Federal Inland Revenue Service (FIRS), said the ongoing tax reforms aim to support businesses — especially small firms — through zero percent income tax, capital gains tax exemptions, and reliefs that allow companies to offset accumulated losses.
Adedeji, represented by Victor Kajesomo, head of the Treaties and International Tax Policy Division, said the reforms introduce new rules for individuals and businesses while restructuring tax administration to simplify compliance and enhance revenue collection.
Agabaidu Jideani, ACCI director-general, said the reforms were designed to expand Nigeria’s revenue base, reduce inefficiencies, modernise processes and create a predictable environment that supports investment. He noted that feedback from businesses showed persistent questions about transition timelines, compliance expectations, and sector-specific impacts.
He commended Ferrato Industry Ltd., International Health Management Services Ltd., Abuja Enterprise Agency and FIRS for supporting the roundtable.
Michael Ango, executive chairman of the FCT-Internal Revenue Service (FCT-IRS), said effective tax administration is key to improving the ease of doing business. Represented by Nneka Nwachukwu, he said modern, well-structured tax systems reduce compliance burdens, encourage voluntary compliance, and promote investment.
Chioma Njoku, chairperson of the ACCI Women-in-Business group, said the reforms present significant benefits for women entrepreneurs, households, and the informal sector. She said expanded definitions of small companies and revised tax-exempt thresholds would enable women-owned businesses to reinvest profits, scale operations, and gradually transition into the formal economy.
She called for gender-responsive implementation, continuous awareness campaigns, and simplified processes to ensure rural and informal-sector women are not excluded from the benefits of the reforms.
