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From Isaac Job, Uyo
Chairman of Akwa Ibom State Internal Revenue Service (AKIRS), Sir Okon Okon, has said that the new tax reforms which would be effective from January 2026 will provide reliefs for low income earners, streamline tax environment for businesses and eliminate multiple taxation in the new year.
Speaking with Journalists in Uyo yesterday, Okon explained that
the four newly enacted tax laws will simplify, harmonise, and close leakages in Nigeria’s tax system while easing the burden on small businesses.
Delivering a paper titled “Tax Reform: Synopsis of the Implications”, Okon disclosed that the Nigeria Tax Act, Nigeria Tax Administration Act, Nigeria Revenue Service (Establishment) Act, and Joint Revenue Board (Establishment) Act are structured to work in unison to bring about a seamless taxation experience for Nigerians, particularly those in the low-income bracket who have long suffered from multiple taxation.
He further disclosed that, effective January 1, 2026, all Nigerians will be required to possess a Tax Identification Number (Tax ID), in addition to the existing National Identification Number (NIN).
The Akwa Ibom Revenue chairman who is a member of the Presidential Committee on Fiscal Policy and Tax Reform, dismissed fears that the Tax Identification policy is designed to monitor financial transactions adding that instead it will ease access to financial services and benefit taxpayers.
“The Tax ID will be automatically generated for every Nigerian with a valid National Identification Number (NIN).
The provision of Section 8(2) of the Nigeria Tax Administration Act (NTAA) 2025 does not mean that bank accounts of citizens without a Tax ID will be blocked on January 1, 2026,” he clarified.
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“It simply requires that every taxable Nigerian provides a Tax ID when seeking financial services
” The tax reforms include over 50 exemptions and reliefs aimed at reducing burdens on citizens and businesses. Notably, agricultural enterprises will benefit from a five-year tax holiday.”
He listed exempted items and services to include baby products, sanitary products, land and buildings, intra-bank transfers, agricultural inputs, healthcare and medical services as well as educational materials, among others.
The AKIRS Chairman called on media organisations and the NUJ, Akwa Ibom State Council to partner with the Service in sensitising the public on the provisions and benefits of the new tax laws.
“All we need now is media partnership to sensitize the public on this new tax regime as it would benefit low income earners and eradicate multiple taxation “
