Chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Dr. Mohammed Shehu, has said the implementation of new tax laws, beginning January 1, 2026, will reduce compliance burdens and create a more predictable fiscal environment.
Shehu made the remark at the National Stakeholders’ Discourse themed “Enhancing Fiscal Efficiency and Revenue Growth under the Nigeria Tax Act, 2025” held in Abuja yesterday. The four Acts covered include the Nigeria Tax Act, 2025; Nigeria Tax Administration Act, 2025; Nigeria Revenue Service (Establishment) Act, 2025; and the Joint Revenue Board (Establishment) Act, 2025.
He noted that Nigeria’s economy has long suffered volatility due to fluctuating oil prices, which have resulted in unpredictable revenue streams and constrained long-term fiscal planning. According to him, high debt service obligations consume a large proportion of government revenue, limiting public investment and threatening fiscal sustainability across all tiers of government.
Shehu said the new laws are designed to reduce compliance burdens, harmonise tax administration across regions and provide a coherent framework for revenue collection. He added that the stakeholders’ forum was organised to ensure all parties, including organised labour, clearly understand the implementation process.
He further disclosed that the Federation Account recorded N23.058 trillion in accruals in the first 10 months of the year. While recent policy changes have improved the overall economic situation, he noted that many citizens are yet to feel the benefits. He added that the Commission remains committed to safeguarding the federation’s revenue through enhanced monitoring, forensic audits, collaboration with sub-national governments and transparency reforms.
Ambassador Desmond Akawor, Chairman of the Fiscal Efficiency and Budget Committee of RMAFC, said the country is at a critical juncture, with the new tax laws expected to shape the stability and resilience of the economy for years to come.
Also speaking, National President of the National Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Janice Ibrahim, said the laws would promote fiscal stability and strengthen revenue mobilisation. She noted that a modern, efficient and equitable tax system is essential for economic growth, adding that clear and predictable tax policies enable businesses to invest, expand, create jobs and contribute more meaningfully to national revenue.
