As New Tax Law Looms Over Nigerians In 2026, Don, Panelists Examine Details, Clarify Grey Areas, At DOPF Annual Lecture

As the January 1, 2026 date for the commencement of the implementation of a new tax regime in Nigeria approaches, Dr. Ochuko Emudainohwo, FCA, an Associate Professor of Accounting at Dennis Osadebay University, Asaba, has not only hailed the 2025 tax law as a strategic blueprint for inclusive economic growth, capable of repositioning Nigeria for a more diversified and resilient economic future, but undertaken a comprehensive breakdown and analysis of the details and grey areas, which have continued to confuse and befuddle many Nigerians as palpable uncertainty reigns over the individuals and categories of business that will actually be in the tax net from January next year. 

He equally went a step further to urge stakeholders—businesses, policymakers, and citizens alike—to embrace the reform and contribute to a more accountable and sustainable fiscal environment for the overall development of the country.

Recall that President Bola Ahmed Tinubu Nigeria on 26 June 2025, signed the four (4) Tax Reform Bills into law. These laws include the Nigeria Tax Act (NTA), The Nigeria Tax Administration Act (NTAA), The Nigeria Revenue Service Act (NRSA) and the Joint Revenue Board Act (JRBA). The Acts have comprehensively overhaul the Nigerian tax landscape and are expected to drive economic growth, increase revenue generation, improve the business environment and enhance effective tax administration across the different levels of government. 

They also consolidate and replace numerous existing tax laws to simplify the system, broaden the tax base, and improve administration.

Dr. Emudainohwo, who gave the charge when he delivered a comprehensive lecture as the Guest Speaker at the Delta Online Publishers Forum (DOPF) 2025 Lecture Series held in Asaba, on Thursday, November 27, with the theme: “Nigeria’s New Tax Law: Implications and Opportunities for Businesses and Society,” also unpacked the rationale, structure, and benefits of the recently enacted 2025 tax law under President Bola Ahmed Tinubu’s administration.

He noted that taxation remains one of the strongest instruments for national development. According to him, to understand the essence of the new tax law, citizens must first appreciate the context in which it was introduced.

While outlining the several key factors that necessitated the reform, including Nigeria’s declining oil revenue capacity, which has become increasingly insufficient to sustain national development; a rising population that continues to exert pressure on public services; and lingering economic shocks from the COVID-19 pandemic, which exposed the fragility of the nation’s revenue system, Dr. Emudianowho equally stressed that these challenges, compelled the federal government to rethink its fiscal strategy and pursue a more sustainable and inclusive approach to revenue generation.

At the heart of the 2025 tax law, he noted, is the objective of reducing Nigeria’s overdependence on oil revenue.

Explaining that the new framework consolidates income taxes and company taxes into a single tax net, streamlining compliance and reducing administrative bottlenecks, Dr. Emudainohwo described the reform as “pro-people,” emphasizing that it was designed not only to boost government revenue but also to stimulate economic growth across various sectors.

“The law supports Small and Medium-Scale Enterprises (SMEs). Companies with an annual turnover of less than N50 million are now exempted from capital-based taxes and company income taxes,” he stated.

This exemption, he argued, will ease the burden on small businesses, encourage entrepreneurship, and promote innovation.

Furthermore, Dr. Emudainohwo highlighted the law’s emphasis on transparency and modernization. By strengthening digital tax platforms, the new legislation enhances accountability, improves efficiency, and minimizes leakages within the revenue system.

A panel of distinguished experts comprising Martins Onyeme Aghaobodo Esq, Victor Fegor Origho, and Barr. Ikpesu Gideon Jade, ably marshalled by veteran broadcaster Mr. Lawrence Okpewho who moderated the plenary seasons, then engaged in a robust examination, dissection and clarification of the grey areas which have continued to befuddle and confuse Nigerians, particular in identifying those who will be covered by the new tax net as the implementation which is scheduled to commence from January 2026 approaches.

Delta state Governor, Rt. Hon. Sheriff Oborevwori, who was represented in his capacity as Special Guest of honour, by Mr. Charles Aniagwu, the state Commissioner for Works (Rural and Riverine Infrastructure) and Public Information, summed up the sentiments of the audience by confirming that his knowledge of the new tax law has been considerably broadened by the lecture and discussions and he was now better educated on the modalities of it's implementation, which would enhance subsequent engagements and collaboration with tax officials in ensuring the smooth navigation of the processes to conform with the new tax regine.

He then commended the DOPF leadership for always raising the bar in engaging novel and topical discourses that expand the understanding of laws and policies that impact on societal well being, and while assuring that Governor Oborevwori was always ready to partner with and support groups and organizations like DOPF that add value to the lives of Deltans and the society at large, urged the Forum to ensure that the comprehensive package of the Lecture and discussions, be compiled and made available for referential purposes, especially to the Presidential Fiscal Policy & Tax Reforms Committee, which is in line with the public enlightenment agenda of the Committee.

High point of the well attended event was the presentation of gifts/sourvenirs to the Delta State Governor, Rt. Hon. Elder Sheriff Oborevwori, the Commissioner for Works (Rural and Riverine Infrastructure) and Public Information Mr. Charles Aniagwu, as well as theChairman of the occasion, Chief Edward Obiefuna Martyns (Nnanyelugo), the guest lecturer, Dr. Ochuko Emudainohwo and all the resource persons and moderator of the panel session.