Zacch Adedeji, Chairman of the Nigerian Revenue Service (NRS), has clarified that the new tax laws introduced by the Federal Government are aimed at simplifying taxation, easing compliance, and promoting prosperity for both individuals and businesses. The laws, which took effect on January 1, 2026, have sparked misconceptions, but Adedeji stressed that their purpose is fairness, not higher taxation.

According to him, the reforms align with President Bola Tinubu’s vision of “taxing prosperity, not poverty.” They consolidate over 60 scattered tax legislations into four major Acts: the Nigerian Tax Act 2025, Nigerian Tax Administration Act 2025, Nigerian Revenue Service Establishment Act 2025, and the Joint Revenue Board Act. This unified framework is expected to modernize tax administration and make compliance easier for businesses and individuals.

Adedeji emphasized that the reforms are not about increasing tax burdens, but about ensuring a fair, predictable, and transparent system. He highlighted that essentials such as food and transportation are exempt from transactional taxes, benefiting low-income earners, and clarified that the development levy is a consolidation of existing taxes rather than a new tax.

On concerns about bank accounts and tax certificates, Adedeji assured Nigerians that all valid tax clearance certificates remain effective and that there will be no arbitrary deductions. He also rejected calls to suspend the laws, noting that once a law is passed, it can only be suspended by court order or under a state of emergency.

Adedeji concluded by urging Nigerians to focus on facts rather than rumours, stressing that the reforms are designed to grow the economy, support businesses, create jobs, and ensure shared prosperity.