Tegbe says new tax regime eases burden on workers and small businesses

Taiwo Tegbe has stated that the new tax regime in Nigeria aims to reduce the financial strain on workers and small businesses. This announcement highlights potential relief measures in the country's fiscal policy.

Taiwo Tegbe, a prominent figure, has commented on the introduction of a new tax regime designed to alleviate the burden on workers and small businesses in Nigeria. According to reports, Tegbe emphasized that this policy shift would provide much-needed support to these groups amid economic challenges.

The statement comes at a time when fiscal policies are under scrutiny, with the new regime positioned as a step toward fairer taxation. No specific details on the regime's components were outlined in the available information, but Tegbe's remarks suggest a focus on easing compliance and costs for everyday earners and entrepreneurs.

This development is part of broader discussions on economic reforms, though further implementation details remain pending.

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Treasury Cabinet Secretary John Mbadi reviewing PAYE tax relief documents in a government office
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Mbadi: PAYE tax relief proposal still under active consideration

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Treasury Cabinet Secretary John Mbadi has confirmed that the government’s earlier proposal to raise the PAYE tax-free threshold from KSh 24,000 to KSh 30,000 remains under consideration, despite its absence from the draft Finance Bill 2026.

In Abuja, Wale Edun, the minister of finance and coordinating minister of the economy, signed the presumptive tax regulations framework on Tuesday. This step signals the federal government's initiation of full tax law implementation.

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The government has outlined new conditions that must be fulfilled before implementing its planned reductions in key taxes, including Pay As You Earn (PAYE), Value Added Tax (VAT), and income tax, as it seeks to balance fiscal sustainability with taxpayer relief. The policy shift comes nearly three weeks after assurances from President William Ruto and Treasury Cabinet Secretary John Mbadi that the administration was committed to lowering major taxes to ease the cost of living. Treasury Principal Secretary Chris Kiptoo stated that the tax reduction plans will depend on the expansion of the tax base.

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