The President of the Abuja Chamber of Commerce and Industry (ACCI), Emeka Obegolu, has called on the Federal Government to embark on more engagement activities with stakeholders for the success of the new tax reform laws billed to take effect from next year.
Obegolu, in his opening remarks at the Abuja Business Tax Townhall meeting on Tuesday, commended the initiative of the President to reform the nation’s tax laws, noting that the reforms are to modernise and harmonise taxation across the federation, eliminate multiple taxation, strengthen administration, and create a revenue system that is transparent, inclusive, and business-friendly.
“For the private sector, this presents an important opportunity, but also the need for clarity and preparedness,” he said.
He noted that the success of the reforms will depend not only on policy design but also on effective implementation, strong coordination, and continuous stakeholder engagement.
“While the Federal Government has initiated several sensitisation and awareness efforts, feedback from the business community in Abuja, MSMEs, multinational corporations, start-ups, and professional service firms has revealed significant gaps in understanding the practical implications of the new laws.
“Let me reaffirm the commitment of the Abuja Chamber of Commerce and Industry to supporting the government through constructive policy dialogue, technical engagement, and continuous enlightenment of the business community. We applaud the bold tax reforms of the current administration and urge consistency, transparency, and political will in seeing them through.”
He said the reforms, if well implemented, will strengthen Nigeria’s fiscal foundation, attract investment, and support sustainable economic growth.
Earlier, in his welcome address, the Director-General of ACCI, Agabaidu Jideani, said the town hall meeting was organised by the ACCI, through the National Policy Advocacy Centre (NPAC), to provide a structured and inclusive platform for policy-makers, regulators, and private sector leaders to interact in meaningful dialogue.
“Our goal is to bridge policy and practice, deepen understanding of the new fiscal framework, and ensure a smooth, informed, and collaborative implementation process,” he said.
He noted that the objectives of the meeting were to increase awareness and understanding of the new fiscal and tax reforms coming into effect in 2026, facilitate constructive dialogue between government agencies and private sector stakeholders, identify implementation challenges and develop actionable recommendations, promote transparency, accountability, and inclusiveness in Nigeria’s tax administration, and strengthen collaboration among business associations, regulators, and development partners.
In his presentation at the event, a deputy director at the Federal Inland Revenue Service (FIRS), Kehinde Kajesomo, said the new laws introduce exemptions for charities, religious institutions, government agencies, pension funds, low-income earners, and priority sectors such as agriculture and renewable energy.
He said there are also tax credits available for research and development, angel investors, export-oriented companies, and strategic investments, while VAT exemptions cover essentials like education, agriculture, humanitarian supplies, electric vehicles, and exports.
