Jan 1st not deadline for Tax ID Obtainment - AKIRS Clarifies

Priscilla Akpanettot

The Akwa Ibom State Internal Revenue Service (AKIRS) has again reiterated that the deadline for one to obtain their Tax Identification Number is not January 1st, 2026.

The Service has also refuted claims that people would not be able to access the money in their bank accounts or carry out financial transactions if they do not obtain their Tax ID before January 1st, 2026.

The Service gave this information in view of the anxiety and fear by members of the public ahead of the Jan 1st, 2026 new tax reforms implantation.

Briefing the organized private sector on the implications of new tax reforms on Monday, December 22, 2025 at the State Secretariat in Uyo, Chairman of the AKIRS, Sir Okon Okon described the claims as untrue, and stressed that access to banking activities will not be denied.

"What we're saying is that nobody's account will be blocked or unusable after January 1st, 2026. So, allow your money to remain where it is". The money in your account will not, and cannot be taxed, either", he emphasized.

"The deadline for obtaining your tax ID is not January 1st, 2026. So, there shouldn't be anxiety in the process of obtaining the Tax ID. January 1st, 2026 is when the new tax reforms will be effected", he stressed.

Against popular suggestions, the Member of the Presidential Committee on Fiscal Policy and Tax Reforms noted that the new national tax reforms will bring great relief to many Nigerians, boost economic activities, and drive growth and development across the country.

He listed some impacts of the new tax reforms to include: significant improvement in IGR; more efficient revenue administration, seamless harmonization and collaboration with State systems and structures; removal of roadblocks for revenue collection and elimination of multiple taxation. 

Among other advantages, Okon Okon said the new regime will also boost the State's fiscal position as VAT formula has been revised from 50% to 55%; strengthen revenue administration and professionalism; eliminate consumption tax, offer improved business environment, and more profitable activities for SMEs, etc.

He noted that part of the ongoing engagements was to dispel misconceptions, help taxpayers see the benefits, and to seek collaboration with critical stakeholders in propagating the right message.

Also a Fellow and Council Member of the Chartered Institute of Taxation of Nigeria (CITN), Okon stressed that there was no need for anxiety over the tax reforms as the new tax regime was intentionally designed to simplify the national tax system, check multiple taxation, and curtail the activities of non State actors and nuisance taxes.

He furthered that the existing tax system which was rooted in colonial and archaic  laws was marked by fiscal imbalance,  inconsistent tax framework across jurisdictions, and multiple tax identifiers that adversely affected compliance by individuals and corporate organizations.

According to Okon, the reforms have birthed four new tax Acts designed to consolidate and streamline tax administration in the country, namely, the Joint Revenue Board (JRB) Establishment Act 2025, which replaces the Joint Tax Board (JTB); the Nigeria Revenue Service (NRS) Establishment Act 2025, that replaces the Federal Inland Revenue Service (FIRS);  the Nigeria Tax Administration Act (NTAA) 2025; and the Nigeria Tax Acts (NTA) 2025.

These, he noted, come with reliefs for many Nigerians, including low-income-friendly-thresholds, personal income tax exemptions for those earning below one million naira annually; promotion of efficient, unified, tech-driven tax administration; while basic services and commodities such as food, education, health, rents, transport, etc, will attract zero percent VAT.

These measures, he argued, will ease pressure on individuals and households, while the introduction of a national Tax Identification Number (TIN) will boost compliance and catalyse economic planning at both national and subnational levels.

"So, you only need to have a Tax ID just like you need a National ID. It's basically an essential information everyone must have", he clarified.

Responding, the organized private sector described the sensitization as "enlightening, informative, necessary, and timely", adding that it has provided them with informed preview of what the reforms were about and has also fortified their members against the misconceptions in public space.

Speaking separately on behalf of the groups, the Branch Controller of the Central Bank of Nigeria, Uyo, Mrs. Nwabukwu Njideka; a Representative of the Chamber of Commerce and Industry, Eket, Mr. Aniedi Ikoiwak; Branch Manager, Zenith Bank, Udo Udoma, Uyo, and MD/CEO, Ibom Mortgage Bank, Pastor Ike Okon appreciated the engagement programme, and the AKIRS boss for his presentation which they said has adjusted perceptions on the new reforms, helped them to begin to focus on its benefits and prepare for January 1, 2026.

The AKIRS has so far taken it's message of awareness on the new tax reforms to the Nigeria Union of Journalists (NUJ), Akwa Ibom State Council; the Association of Local Governments of Nigeria (ALGON) as well as other stakeholders and sectors in preparation for the January 1st implementation.

First Lady Gifts Fifty Million Naira to 250 elderly citizens in Akwa Ibom

 

‎
Priscilla Akpanettot

‎The First Lady of Nigeria, Sen. Oluremi Tinubu, CON has gifted a total of Fifty Million Naira (N50,000,000) to 250 elderly citizens in Akwa Ibom State.

She made the presentation on Tuesday, December 16, 2025 at the Banquet Hall of the Akwa Ibom State Government House, Uyo.

The gesture which was done under the umbrella of the Renewed Hope Initiative (RHI) saw each elderly citizen receive the sum of Two Hundred Thousand Naira (N200,000).

Presenting cheques to the beneficiaries, Senator Oluremi said that the gesture was part of ongoing efforts to ensure that elderly citizens live with dignity and joy, in a nation that genuinely cares for its own.

"Since the inception of this administration in 2023, the Renewed Hope Initiative has made it a tradition to celebrate our senior citizens every December, in recognition of their invaluable contributions to nation-building", she said.

"Through this scheme, we have continued to express our gratitude and care for the men and women who have laboured to build the Nigeria we are all proud to be part of today", she added.

She stressed that the scheme aims to support 250 vulnerable elderly citizens aged 65 and above across the 36 States of the federation, the Federal Capital Territory, and veterans from the Defence and Police Officers' Wives Association (DEPOWA).

"These nine thousand five hundred (9500) selected beneficiaries will receive Two Hundred Thousand Naira (N200,000) each.
The total sum to be disbursed is One Billion, Nine Hundred Million Naira (N1,900,000,000) as approved by the Governing Board of the Renewed Hope Initiative", she remarked.

Represented by Lady Helen Obareki who coordinates the Office of the First Lady in Akwa Ibom State, Tinubu emphasized the importance of prioritizing the elderly, saying they have walked difficult paths so that the younger generations may have smoother roads to travel.

"It is therefore our moral duty, and indeed our joy, to ensure that they live their twilight years in comfort, good health, and dignity", she stated.

While encouraging the recipients to find joy in old age, the President's Wife charged them to find purpose as well in community, compassion, and care.

"Remember that ageing gracefully is not just about longevity but about being surrounded by love, support, and respect.
I encourage you to continue playing your part by staying healthy and active. Nurture both your body and mind through regular exercise and meaningful engagement", she advised, and thanked them for their services, sacrifices and prayers for Nigeria.

She prayed God's blessings on them, while wishing them good health, peace, and renewed hope.

In her remarks earlier, the State Focal person for the RHI, Mrs. Emem Orok, mentioned that the Initiative was a Support Scheme of Sen. Oluremi Tinubu to provide relief and renewed hope to the elderly and thus remind them that they are deeply valued, loved and remembered.

Also, the Commissioner for Women Affairs and Social Welfare, Hon. Inibehe Etukudo, in a goodwill message commended the First Lady for the Initiative and called on members of the public to emulate the gesture.

Responding on behalf of the beneficiaries, Mr. Abasiama Idiong, was full of appreciation to Sen. Oluremi Tinubu for her magnanimity. He described the present as a timely gift, noting that it would significantly meet their needs.

The empowerment which was themed: "Finding Joy in Old age" was the third edition of the Renewed Hope Initiative Elderly Support Scheme (RHIESS) since it's launch in 2023.

AKIRS Intensifies Sensitization on New Tax Reforms:

 

_...Takes awareness to ALGON_

Priscilla Akpanettot

The Akwa Ibom State Internal Revenue Service (AKIRS) on Friday, December 12, 2025 took the sensitization on the new tax reforms to the Association of Local Governments of Nigeria (ALGON), Akwa Ibom State.

The sensitization was part of AKIRS' efforts at ensuring that critical stakeholders and members of the public are adequately informed of the provisions of the reforms ahead of its full implementation in January, 2026.

Held at the Conference Hall of the Chairman of Uyo Local Government Council, the  engagement highlighted the need for the reforms and expected significant outcomes, following it's implementation.

Addressing the Association, Chairman, AKIRS, Sir Okon Okon, noted that the new national tax reforms will bring great relief to many Nigerians, boost economic activities, and drive growth and development across the country.

He listed some impacts of the new tax reforms on Local Governments to include: significant improvement in IGR; more efficient revenue administration, seamless harmonization and collaboration with State systems and structures; removal of roadblocks for revenue collection and elimination of multiple taxation. 

Among other advantages, Okon Okon said the new regime will also boost the State's fiscal position as VAT formula has been revised from 50% to 55%; strengthen revenue administration and professionalism; eliminate consumption tax, offer improved business environment, and more profitable activities for SMEs, etc.

Sir Okon Okon during his presentation 

He noted that part of the ongoing engagements was to dispel misconceptions, help taxpayers see the benefits, and to seek collaboration with critical stakeholders in propagating the right message.

He stressed that there was no need for anxiety over the tax reforms as the new tax regime was intentionally designed to simplify the national tax system, check multiple taxation, and curtail the activities of non State actors and nuisance taxes.

Sir Okon, a Member of the Presidential Committee on Fiscal Policy and Tax Reforms further noted that the existing tax system which was rooted in colonial and archaic  laws was marked by fiscal imbalance,  inconsistent tax framework across jurisdictions, and multiple tax identifiers that adversely affected compliance by individuals and corporate organizations.

 Sir Okon Okon flanked by members of ALGON 

According to Okon, also a Fellow and Council Member of the Chartered Institute of Taxation of Nigeria (CITN), the reforms have birthed four new tax Acts designed to consolidate and streamline tax administration in the country, namely, the Joint Revenue Board (JRB) Establishment Act 2025, which replaces the Joint Tax Board (JTB); the Nigeria Revenue Service (NRS) Establishment Act 2025, that replaces the Federal Inland Revenue Service (FIRS);  the Nigeria Tax Administration Act (NTAA) 2025;   and the Nigeria Tax Acts (NTA) 2025. These, he noted, come with reliefs for many Nigerians, including low-income-friendly-thresholds, personal income tax exemptions for those earning below one million naira annually; promotion of efficient, unified, tech-driven tax administration; while basic services and commodities such as food, education, health, rents, transport, etc, will attract zero percent VAT.

These measures, he argued, will ease pressure on individuals and households, while the introduction of a national Tax Identification Number (TIN) will boost compliance and catalyse economic planning at both national and subnational levels.

In his remarks, the Chairman of Uyo Local Government Council, Dr. Uwemedimo Udo who doubles as the Chairman of ALGON, Akwa Ibom State, thanked and commended AKIRS for bringing the sensitization to them.

He acknowledged that the exercise has updated and broadened their knowledge of the new Tax Reforms and commended the Governor for facilitating the sensitization.

He further lauded Governor Umo Eno for the people-oriented leadership and judicious management of the State's resources which he said have acted as morale booster for compliance by the citizenry.

The Friday's engagement with ALCON came after similar event had been held in recent times with professional organizations like MDA, NBA, ANAN, ICSAN, etc, including investors and business associations in preparation for the January 1, 2026 deadline for implementation of the New Tax Regime.

Lott Carey Baptist Secondary School: A forgotten Nest of Champions

 

...Infrastructural decay, deplorable road condition impedes school growth

...How students learn sitting on bare floor

Priscilla Akpanettot

This is Lott Carey Baptist Secondary School, located at the Afaha Obio Eno community in Ibiono-Ibom Local Government Area of Akwa Ibom State. Established in 1960, the School remains one of the foremost citadels of learning in the State, having churned out a good number of public figures in the society, among which are the former Governor of the State, Obong Victor Attah.

History has it that this school was built by Sen. Ita Enang’s father-in-law, Late Charles Ebong, before its management was taken over by the State Government. Recently, during the passage rites of Late Madam Agnes Charles Ebong (the pioneer Proprietor's wife), one of the classroom blocks was used as a venue to host guests, probably in honour and memory of her late husband, who founded the school.

In its days of glory, Lott Carey, according to members of the host community, was the bride and pride of Ibiono-Ibom in terms of academic excellence. From boarding facilities to conducive learning environment, standard classrooms, quality teachers, learning aids such as a state-of-the-art library, functional laboratories and a massive field for recreational activities; the school attracted day students from as far as Mbiabam, Okobo Ibiono, Urua Ekpa, Ikot Ada Idem, Ikot Ambang, Itak, Ekit Itam, Odiok Itam and surrounding communities who found no other School attractive and worthy of their association, while boarders were predominantly students from other Local Government Areas and States who all wanted to be identified with the famous Lott Carey.

Today, the same school which stood tall among it contemporaries lives in its past glory. The fanfare, aura, and prestige it was known for are buried in the decay, which consumes the school layer by layer, by the day, threatening it with extinction. 

Today’s Lott Carey is a stark representation of infrastructural neglect, abandonment, and starvation. The roofs have fallen, floors are broken, windows and doors are no more, and the buildings are gradually sinking into the water-logged soil. 

Most of the classroom desks have become unusable due to wear and tear, causing the majority of students to take their lessons and exams sitting on broken floors and window frames, with some others standing to learn. The same story applies to the exam hall. Students hang on window frames and sit on bare floors to write their examinations.

The library, which has become a make-shift staff room due to the lack of chairs and tables in the main staff room, is but a museum housing very old and outdated books which are no longer in use. The Science, Chemistry, Physics, and Biology Laboratories are nothing but monuments as well.

 Even more, the school is lacking in core subject teachers such as Computer and English Language, particularly. 

“How do you teach Computer Science without showing it?” one of the School’s staff who pleaded anonymity expressed. These children don’t know what a Computer looks like or what a mouse is…we only write on the board”, the staff said, referring to the old chalkboard constructed from the onset in the 60s which they still use in today’s modern world of knowledge impartation.

“Some teachers are only trying to assist so that the students do not suffer much because it would be very bad for a parent to see their child’s results without English Language”, the staff added. As a result, the subject is taught by any available teacher whenever the only subject teacher is indisposed.  

Save for the 2009 ETF building in the school premises, nothing else is suggestive of government’s effort or presence at the present-day Lott Carey. The School’s Parent-Teacher Association (PTA), when it was active, was able to undertake the roofing of one of the classroom blocks, but the Association is fast becoming non-existent as well.

Perhaps the worst part of Lott Carey’s misfortune is the lack of access road. The current state of the road poses a great risk to students’ safety and threatens the school’s growth and population, which is now less than a thousand. “There was a very deep ravine close to the School so that if you cut a very tall palm tree to put inside, it will swallow it up”, the staff said, while explaining that the road suffers the effect of erosion and flooding from Ntang Inyang river, where a bridge was supposed to be built.  Save for the cosmetic intervention done by Sen. Ita Enang, during his mother-in-law’s burial, the situation would have been worse. 

When asked of their efforts to communicate these drawbacks to the Ministry of Education, the staff responded that none of their efforts had yielded positive results. 

“The Ministry is not doing well. When they remove an English teacher, they will not return another. 

Moreover, even when the teachers are sent down here, they don’t come because of the bad road condition. And there are no staff quarters either, so the school is currently struggling with 1 English teacher. All through the last aca

demic session, we had no single English teacher. When that one teacher went for a surgical operation and could not come to school, a Biology teacher and another teacher teaching C.R.S had to stand in the gap for him. ‘Madam’ (the Principal who also pleaded anonymity) has written to the board even till last term. Yet, nothing has been done about it”, the staff lamented.

Good enough, Lott Carey has no security threat. The host community is doing its best to secure the property and also helping in the discipline of erring students, but this does not rule out the fact that the school needs perimeter fencing.

Education as captured in the 2026 Akwa Ibom State budget stands at N31.6billion. While the State Governor affirms his administration’s resolve to transform the State’s education sector through the ARISE Educational Renewal Initiative with the construction of Model schools across the three senatorial districts of the State, attention should as well be paid to schools like Lott Carey which had been and has produced substantial intellectual resources over the years. 

Schools like these are part of the labours of our heroes past which should not be in vain.

This is also a wake-up call to old students of the school to return home and help the school regain its former glory. This will help ensure that the primary fountain of their knowledge does not go dry for others’ use.

AKIRS Engages with Professionals, Business Associations on new Tax Reforms

 

Priscilla Akpanettot

The Akwa Ibom State Internal Revenue Service (AKIRS) has met with professionals and business associations in the State to sensitize and discuss with them, gains of the new tax reforms.

The engagement which held at the ICT Conference Room of the State Accountant-General’s Office in Uyo on Wednesday, December 3, 2025, had in attendance, members of the Nigerian Bar Association (NBA), the Nigerian Medical Association (NMA), Association of National Accountants of Nigeria (ANAN), Institute of Chartered Accountants of Nigeria (ICAN) and the Chartered Institute of Taxation of Nigeria (CITN).

Others are: Association of Private School Owners, Association of Community Pharmacists, Association of Private Medical Professionals, Nigerian Society of Engineers, Nigerian Institute of Management, Institute of Safety Professionals etc.

Enlightening the gathering, Chairman, AKIRS, Sir Okon Okon said the new national reforms which will be effective from January 2026 will bring far-reaching relief to many Nigerians, boost economic activities and drive growth and development across the country. 

Okon Okon who is a member of the Presidential Committee on Fiscal Policy and Tax Reforms, noted that the anxiety over the tax reforms was unfounded as the new tax regime was designed to correct inconsistencies in the national tax system, check the challenges of multiple taxation and curtail the activities of non-state actors and nuisance taxes. 

He noted that the existing tax system which was rooted in precolonial laws was marked by fiscal imbalance, inconsistent tax framework across jurisdictions, and multiple tax identifiers that adversely affected compliance by individuals and corporate organizations.

According to Okon who is also a Council Member of the Chartered Institute of Taxation of Nigeria (CITN), the reforms have produced four new tax Acts meant to streamline tax administration in the country, namely: the Joint Revenue Board (3RB) Establishment Act 2025, which replaces the Joint Tax Board (JTB); the Nigeria Revenue Service (NRS) Establishment Act 2025, that replaces the Federal Inland Revenue Service (FIRS); the Nigeria Tax Administration Act (NTAA) 2025; and the Nigeria Tax Acts (NTA) 2025. These, he noted, come with reliefs for many Nigerians, including low-income-friendly-thresholds fiscalization; personal income tax exemptions for those earning below 1 million annually; lower PAYE for incomes less than N1.7m monthly; promotion of efficient, unified, tech-driven tax administration while basic services and commodities such as food, education, health, rents, transport, etc, will attract zero percent VAT. These measures he said, will ease pressure on individuals and families, while the introduction or a National Tax Identification Number (TIN) will encourage compliance, remove bureaucratic bottlenecks in the tax system, free up more revenue for government for development purposes, boost business expansion, create employment opportunities and make for global competitiveness.

On the implications and impact or the new reforms for Akwa Ibom State, the State's tax helmsman said it directly will improve the State's fiscal position as VAT formula has been revised from 50-55% percent, strengthen revenue administration and professionalism, eliminate consumption tax, provide better business environment and protect SMES, and target high net-worth individuals. 

He emphasized that the ongoing engagements with diverse groups was to dispel misconceptions, help taxpayers see the benefits of the tax reforms rather than be apprehensive, and to seek collaboration with critical stakeholders in propagating the right message. 

“We’re targeting the fruits of investments, not the capital. This is what we want the public to know. For instance, if your turnover as an SME is not up to N100m in a year, you won’t pay tax. The reform has also reduced the payment of Personal Income Tax to N1m, for those earning up to N1milion and above, which is against what used to be. There’ll be more sensitization to people in various categories and communities using handbills, fliers and every platform at our disposal”, he said.

Commending Sir Okon Okon for the initiative to interface with the stakeholders, the Commissioner for Information, Rt. Hon. Aniekan Umanah said there was no need for worries over the new reforms as it was meant to make for fairer, more transparent and efficient frame for tax administration in the country. He also commended him for his efforts in ensuring that the State revenue profile remains high.

Represented by the Permanent Secretary in the Ministry, Akparawa James Edet, Umana expressed optimism that the engagement would result in growth opportunities for the State.

“As stakeholders, this engagement provides guidance on how these reforms will affect operations in the State so we’re optimistic of a positive outcome that would rub off on the State’s economy”, he stated. 

Participants who spoke during the interactive session were glad to have been so enlightened. They asked for sustained collaboration with the AKIRS to enhance the knowledge gained, while promising to relate the information received to their members.

Statistics Indicate upward rise in engagement opportunities created by Christmas Village

 

Priscilla Akpanettot 

Statistics provided by the Akwa Ibom State Government have indicated an upward rise in engagement opportunities created by Christmas Village for Akwa Ibom people.

The Delivery Advisor to Governor Umo Eno on Tourism, Sir Charles Udoh gave the statistics on Monday, December 1, 2025 during the monthly briefing on the State Government's activities.

Udoh who informed that 3,920 skilled and unskilled workers were engaged last year, against 1,750 in 2023, revealed that there was a 67% increase last year from the number of local performing artistes who performed in 2023, while vendors registration last year recorded a 63% increase against what was documented in 2023. The figures for this year Sir Charles noted are already towering.

He described the Christmas Unplugged as a boost to the Christmas Village, blending entertainment with innovation. 

"The idea is to brand  Christmas Unplugged as Africa's premier family event, while showcasing Akwa Ibom as a unique destination", he said.

Giving the theme for this Year's celebration as "Celebrating Culture, Inspiring Innovation", the  Delivery Special Advisor said it would feature sustained excitement all through with lots of  food, drinks and cultural display.

Other major highlights would be children's party, carols with gospel artistes like Mercy Chinwo, Moses Bliss, Bobby Friga, Prosper Ochimana amongst others, on stage.

He therefore called on Akwa Ibom people to explore the fun, excitement and economic offerings of the event.

The briefing which was held to inform the public of achievements and activities of the State Governor in the month of November, 2025 highlighted efforts in healthcare, infrastructure, and empowerment.

 A fully equipped General Hospital was commissioned in Ikot Akpankuk, Ukanafun, marking a significant milestone in the state's healthcare sector. The hospital, the first functional one since 1976, is equipped with supporting infrastructure and re-engaged retired health workers.

The government also approved a ₦1.390 trillion budget for 2026, focusing on flagship projects, MSME/job creation, tourism, transportation, transparency, and human capital development. This budget represents a 16% reduction from the revised 2025 budget and prioritizes capital expenditure.

In a bid to promote unity and inclusivity, the government allocated ₦800 million for non-indigenous communities, including Igbo, Yoruba, Arewa, and Niger Delta groups. This initiative aims to foster communal development and social cohesion.

Furthermore, the Federal Government approved full international flight operations for Victor Attah International Airport, set to commence in Q1 2026. This development is expected to boost tourism, global connectivity, and foreign investment in the state.

In a gesture of goodwill, Governor Eno approved payment of the 13th-month salary, to be paid before December 20, with rice distribution to all villages for Christmas. These initiatives demonstrate the government's commitment to improving the lives of Akwa Ibom residents and promoting social welfare.

AKIRS Clears Air on Nigeria’s Tax Reforms

 

...says individuals earning less than N1m are exempted from tax payment

Priscilla Akpanettot

Against widely held belief that the new tax reforms instituted by the President Bola Tinubu’s administration will force the payment of tax on all Nigerians from January 2026, the Akwa Ibom Internal Revenue Service (AKIRS), has cleared the air and allayed fears of forceful taxation on individuals and corporate entities.

Speaking on Friday, November 28, 2025 at the NUJ Press Centre in Uyo, Chairman of the AKIRS, Sir Okon Okon said that the tax reforms will rather protect low-income earners and reduce inequality for individuals earning below ₦1 million per year.

Okon who was giving a synopsis of the implication of the 4 new tax reforms with journalists said the reforms will improve fairness and transparency in the delivery of basic social amenities as well as reduce cost of living pressures.

It would be recalled that President Bola Ahmed Tinubu had on June 26, 2025 signed four key tax reform bills into law, collectively known as the Nigerian Tax Reform Acts. The reforms according to Okon Okon are aimed at overhauling the country’s fiscal governance, tax administration, and revenue generation; while improving a unified, technology-driven tax administration scheme for optimized revenue generation across tiers of government.

The AKIRS boss said the tax reform provides a simpler, unified tax system that is easier for businesses and individuals to understand and promotes improved fairness where large companies pay  minimum tax while small businesses and low-income earners receive exemptions and reliefs.

 

Furthermore, he posited that the reforms would bring about stronger digital and institutional capacity for tax collection, promote reduced duplication and multiple taxation, birth clearer investment incentives for both local and foreign investors and as well improve Nigeria’s ease of doing business.

Breaking down the reforms, the South South presidential committee member on tax reforms said that the Nigeria Tax Act, 2025 (NTA) would now ensure a comprehensive consolidation of major federal tax laws into one unified framework through the merging of CIT, PIT, VAT, CGT, Stamp Duties, Petroleum Taxes, and others into a single Act. It would as well broaden the tax base to include digital services, virtual assets, gaming, mining, petroleum operations, prizes, and grants; introduce a 4% Development Levy on assessable profits (replacing multiple old sectoral levies); implement a 15% minimum effective tax rate for large companies/MNEs; introduce Controlled Foreign Company (CFC) rules to limit profit shifting and as well updates rules on interest deductibility, capital allowances, free-zone incentives, and export tax reliefs.

Meanwhile, the Nigeria Tax Administration Act, 2025 (NTAA) which modernizes and harmonizes tax administration across all government levels will now standardize processes for tax filing, assessment, audits, and appeals, and introduce a unified digital system for taxpayers — making compliance easier and reducing bureaucracy; enhances transparency and efficiency in tax collection nationwide.

The Nigeria Revenue Service (Establishment) Act, 2025 (NRSA) now will establish the Nigeria Revenue Service (NRS), replacing the former FIRS. It centralizes federal tax collection and taxpayer registration; implements stronger automation, data integration, and compliance tools and enhances capacity for revenue intelligence and enforcement.

While the Joint Revenue Board (Establishment) Act, 2025 (JRBA) which replaces the Joint Tax Board (JTB) creates a coordinated revenue-administration body across federal, state, and local governments will now reduce multiple taxation by aligning roles across tiers of government; enable coordinated data sharing and joint enforcement and harmonize revenue policies for more predictable taxpayer obligations.

By implication, the AKIRS boss announced 50 tax exemptions and reliefs benefiting the masses to include: Personal Income Tax/PAYE, National minimum wage earners exempt, Annual income ₦1.2 million exempt, lower PAYE rates up to ₦20 million yearly income, gifts exempt, allowable Deductions, Pension contributions and NHIS contributions.

Others are: Loan interest for owner-occupied homes, Life insurance/annuity premiums, Rent Relief Allowance up to ₦500,000 or 20% of rent, Pensions & Gratuities, Pension funds under PRA exempt, Retirement benefits under PRA exempt and Loss-of-employment compensation up to ₦50 million exempt, among others.

He therefore called on members of the public to support the new tax regime, saying it was in the interest of the masses.

For Companies and Investments, the benefits include: CGT exemption for retail investors, pension funds, REITs, M&A, security lending; Capital losses deductible; No WHT on bonus shares; Stamp duty exemption on documents for stocks/shares transfers; Lower business costs via input VAT credits; CIT reduction from 30% → 25%; Harmonization of levies (TET, NITDA, NASENI, etc) and Repeal of 60+ taxes/levies down to < 10; moderation of excessive agency fees via Tax Ombud; and tax exemption for state government bonds.

‘‘Personal Income Tax exemption or final WHT on fixed income securities, lower WHT or exemptions to ease cash-flow pressures, final WHT on foreign investors’ dividends and interest, TIN exemption for foreign investors; Export Processing Zones; entities fully exempt if ≥ 75% of sales are exports; If 25% sales made locally, tax applies to local sales.’’

According to him, ‘‘From 1 January 2028, full taxation applies on all local-territory sales, Share Disposal, flat 10% CGT replaced by 0–30% progressive tax, disposals up to ₦150 million with gains ₦10 million exempt; and gains exempt if proceeds are reinvested in same year.

Commenting on implications for States and Local Government Areas, Sir. Okon stated that VAT formula was revised from 50% to 55% for States, distribution: Equity 50% | Population 20% | Derivation 30%, strengthened revenue administration and professionalism, improved compliance through Tax ID, Stamp Duties on individuals now belong fully to states, and tax harmonization eliminating multiple taxation.

‘‘States empowered to collect taxes for LGAs, consumption Tax abolished, full digitalization: e-invoicing, e-payments, no cash handling, better business environment and protection for SMEs, states administer virtual currency taxes, focus on High-Net-Worth Individuals (HNWIs), National Tax Identification Number (NTIN) for all taxpayers.’’

On implications for the Nation, Okon said it would consolidate major tax laws into a unified framework, facilitate more progressive tax system that protects the poor and boosts equity, enhanced higher tax-to-GDP ratio and reduced dependence on oil, better environment for investment and business growth, remove wasteful levies and reduction of leakages, sustain stronger accountability via the Nigeria Revenue Service, improved tax refunds, better national data, and stronger fiscal planning. As well as harmonized national taxpayer identification.

Speaking on Economic and Operational Impact, he said the tax reform frees capital for expansion and job creation, smooth transition from small to medium scale, improves cash flow and reduces administrative bottlenecks, protects struggling firms, promotes recovery, encourages staff welfare and employment growth, enhances liquidity with faster VAT recovery, promotes consolidation without tax penalties and builds trust through Ombud oversight.

Earlier, the State Chairman of Nigerian Union of Journalists, Comrade Nsibiet John Udoh, commended the Chairman of AKIRS for the thought to sensitize journalists who he said would then take the message to members of the public.

In their separate remarks, the Commissioner for Finance, Emem Bob and his Information counterpart, Rt. Hon. Aniekan Ummah called for the organisation of more trainings for journalists to enable them better educate the masses on impacts and benefits of the new tax regime.

The Commissioner for Information called on journalists to join in the campaign to sensitise the masses on the Nigeria Tax Reforms, while assuring that Governor Umo Eno’s administration would put everything in place to facilitate the smooth take off of the reforms by January 2016.