News
Tax Expert Urges Nigerians To Brace Up For New Tax Regime
…say low income earners will be on PAYE tax
By Gloria Ikibah
Tax Consultant and Past District Governor of Rotary International, Ayo Oyedokun, has called on Nigerians to fully comply with the incoming tax law set to take effect in January 2026, emphasising that no law will be applied retroactively.
Oyedokun made the remarks during the weekly fellowship of the Rotary Club of Abuja City, District 9127, which took place on Monday, 13 October 2025. He was delivering a presentation on The New Tax Bills as part of the Rotary International focus areas “Economic and Community Development for the month of October.
Oyedokun said: “I always said that we should always be compliant with whatever authorities that we have. And so to say, the first thing you should need to understand is that no law is done retroactively.
“You know, in the sense that from January 2026, when that tax law starts, anything that has happened in 2025 does not affect that law. So that means you still comply in the way the law was in 2025 to file your returns in January 2026. But from January 2026 going forward, that is when, you know, that law now applies.”
He stressed that the new tax law has both benefits and drawbacks, depending on income brackets and business categories. “That law is two-sided. It favours a lot of people and also it’s disadvantaged to some people as well,” he said.
Highlighting key provisions of the tax regime, Oyedokun noted that low-income earners will benefit from exemptions, while artisans and other self-employed individuals would still be assessed.
“First and foremost, if you are a worker that earns salary, your pay tax has helped a lot of relief, especially for the lower payer. In the sense that if your salary is less than the minimum wage, which is N70,000, you will not pay as you earn tax. That means it will be tax-free. In the sense that every year you can obtain a tax-free certificate without paying any tax.
“For those that are not working, they will be assessed based on their profession. Maybe you are an artisan, you are a bricklayer, you must pay tax no matter what. But your tax will not be determined based on your occupation. So it might not, if I say go and pay 1,500, you can say go and pay 10,000 Naira per annum, which is still fair enough,” he explained.
Oyedokun also addressed the tax implications for business owners and companies. “If you have what we call an ‘Enterprise’. An enterprise is when you are not a limited liability company. As an enterprise, you are still subject to still pay tax. In the sense that you now file and say, oh, this year my business did this amount. As long as your business exceeds that N800,000 per annum, you pay tax. If the business does not now exceed 800,000, then you don’t pay tax, even as a business owner,” he said.
For limited liability companies, there is an increase in the turnover threshold for company income tax.
“For those that have limited liability companies, they’ve helped us a little more. In time pass as of now, if your business turnover is not more than N25 million, you don’t pay company income tax. Now they have increased it to N50 million,” he stated.
He explained that companies below the threshold will also be exempted from Tertiary Education Tax, while VAT exemptions will apply to certain sectors.
“Pharmaceuticals, food items, agri-products, that are all on the list in that direction. Education is covered. School proprietors, owners, they don’t pay VAT. Because it’s exempted,” he said.
Oyedokun clarified taxation on loans and investments. “If you go and obtain loan from online business, N10,000, N20,000, N40,000, you will be subject to stamp duty on that transaction, but not taxed on it. And stamp duties, the highest you pay is 1%,” he explained.
He further noted, “Some people buy stocks. You ask yourself, if I trade on these stock markets, I make a gain. As long as it is not above N50 million gain, you will be tax exempted.
“So there’s a lot of exemptions that are coming. So it’s like we are saying that we now have to tax the rich class more than the low earners.”
Oyedokun emphasised that by 2026, tax identification will become mandatory for financial activities. “However, we will not escape tax because from January 2026, everybody must have a tax number. You must have it because you cannot open a bank account if you don’t have tax. Then you see all these old pay, money points and everything. You will soon see them starting to say, provide your NIN, provide your DIN, provide your tax number for you to continue operating that because the law would also accept the request for it,” he said.
He explained that the new system aims to simplify tax collection and prevent revenue leakages. “So all these that you pay to personal accounts, they are going to eliminate all those things so that everything falls in because it will now be administered by one body and will now distribute it to all of you, the local government, the state government in that direction,” he said.
The past District Governor also highlighted measures to improve compliance among business owners.
He said : “If you are a business owner that has been refusing to pay tax, you might not have to pay. In the sense that if you have a supermarket, your POS system, there will be what we call fiscalization. There’s a software that they will put that will automatically be linked to your tax number because everybody must have a tax. So it will be linked to your tax number. So there’s no way you can say that I did not make this money, I did not sell this one. So it will automatically show,” he said.
He added that hospitality and retail businesses could benefit from VAT offsets. “As some business owners, hospitality business, restaurant business, supermarket business, you have the opportunity of input and output VATs. In the sense that you buy some products, you pay VATs there. When you sell it, you collect VATs so you can net it off. So that you don’t double pay tax in that direction,” he explained.
He also reassured Nigerians in the diaspora. “People want to send their money to their account. Some people are staying abroad and the payment of their salary is double-sided in Nigeria. As long as they are paying tax there, they don’t pay tax on that money every day,” he said.
Oyedokun concluded by encouraging business owners, employees and entrepreneurs to understand their obligations under the new law, even as he noted that NGOs would remain exempt from most taxes.
“It’s a long thing and it’s not something that we can ignore because there are so many aspects that we can talk about, but these are the ones I feel might interest us as small business owners, as salary earners, as entrepreneurs in that direction.
“And as you all know, NGOs don’t pay tax. Apart from withholding tax in your hand, if the employees start to pay for paying tax in that direction,” he added.
News
#Osoko65: Ex-VP Osinbajo visits former Gov Fayose days to his birthday (Photos)
…says he’s resilient and a steadfast Nigerian
As his 65th Birthday draws near, former Vice President, Prof Yemi Osinbajo, visited the former Governor of Ekiti State, Ayodele Fayose, in his Lagos residence today.
Prof Osinbajo congratulated Fayose on his 65th Birthday, coming on November 15, 2025.
The former Vice President said he had to pay Fayose the visit because he won’t be available on November 15 to attend the birthday celebration.
He described Fayose as a resilient and steadfast Nigerian, who follows whatever he believes in doggedly.
News
Tunji Alausa’s Team records 10,000 digitised thesis submissions in three weeks
● Enrols 135 institutions for certificate verification
● Ekiti, Bayero Universities, Auchi Poly lead national digital submission
Early reports from the newly established national education record digitisation programme under the auspices of the Nigeria Education Repository and Databank (NERD) have shown that Nigerian students successfully uploaded and curated over 10,000 project entries in the first 3 weeks since the programme began.
The figure climbed to over 11,000 submissions by this weekend, with 158 post-graduate entries from a total of 242 active institutions, while over 40,000 students have been successfully enrolled into the NERD system.
The NERD programme, unveiled to Nigerians by Dr Tunji Alausa, the Minister of Education, has also onboarded 135 tertiary institutions for academic credential verification purposes as of press time.
From the live information analytics available on the NERD portal, Ekiti State University, Ado-Ekiti leads with a total of 990 curated entries, followed by Bayero University Kano, with a total submission of 611 as of press time.
Auchi Polytechnic, Edo State, ranks third on the list of highest early enrolment figures with a total student project entry of 532.
They are followed closely by Ambrose Alli University, Ekpoma Edo State (493), Osun State Polytechnic Iree, Osun State (479), the University of Ilorin Kwara State (469), Bamidele Olumilua University of Education, Science and Technology Ikere Ekiti (462), Kaduna Polytechnic (379), the University of Benin Edo State (374) and the University of Nigeria, Nsukka, Enugu State, with 282 entries to make the list of 10 highest student submissions at the end of the first one month of the programme.
Science and Innovation, with entries of 5,952, lead the national students’ industry preference or knowledge pillars, and the figure is not derived from Science and Engineering students alone, as students from Arts and Social Science backgrounds were discovered to be pursuing research topics around innovation and similar cutting-edge thematic trends.
Other higher industry thematic preferences are Multidisciplinary 2,091, Engineering and Technology 1,958, Tourism and Entertainment 1,392, Infrastructure and Sustainable Development 952, while Humanities has 783 submissions.
The majority of the entries are accompanied by the names of the student, their supervisors and heads of departments.
Haula Galadima, NERD’s spokesperson, clarified that one of the strategic objectives of the Federal Government for the thesis digitisation, classification, and archiving scheme was to enhance the quality of supervision without directly meddling in the process.
She stated that lecturers across Nigerian institutions were likely to be more thorough with their supervisory work if they were aware that their names would accompany those works and would be available to or be seen by other researchers, captains of industry and entrepreneurs globally.
She also stated that “NERD now has precision metrics to track earned allowances computation in any institution in Nigeria, and this will help the government to see the quantum of supervisory works being done by our lecturers outside their rigorous class teaching schedules, field, or laboratory work.”
The report also indicates that a slightly higher number of female students successfully enrolled and submitted ahead of their male counterparts, with Male: 4,995 to Female: 6,142.
The information analytics can presently be monitored by clicking Data Analytics or Open Platform on the NERD portal at https://esmat.ned.gov.ng.
For the first time since independence, Nigeria, under the Tinubu-led administration, took a revolutionary decision to digitise, classify, and organise the thousands of yearly research outputs being produced in the nation’s higher institutions.
The goal is to improve the quality of those works, organise and curate them in a location where they can be easily accessed by the industry, as well as make them available to other researchers who can improve upon them for overall national growth and development as a net contributor to global knowledge in a measurable and accountable manner.
Basically, the Federal Government intends to leverage NERD as a strategic tool to promote institutional quality upgrade without directly getting involved or meddling in the institutional processes.
Under the NERD regulation, all academic outputs are to be deposited in the national databank regardless of institution type or proprietorship and regardless of the level of study, whether undergraduate or postgraduate.
Even though NERD has asked NYSC to excuse undergraduates whose process of clearance began in their respective schools before the October 6 enforcement date from the mandatory NERD compliance clearance requirement, since they fall in the transition period, undergraduate students across the nation’s institutions have continued to upload their academic works onto the NERD platform on an hourly basis.
The student’s national thesis digitisation project is one of the key services of the Nigerian Education Repository and Databank.
Other mandates of NERD are the ongoing National Academic Credential Verification scheme targeted at eliminating qualification fraud in the public and private sectors of Nigeria, as well as the National Students’ Clearing House scheme aimed at serving as the central record keeper post-admission across all institutions.
News
Concerned Nigerians Petition Trump Over Zamfara Killings, Seek Visa Ban on Gov Lawal
A coalition under the banner of the Concerned Nigerians for Human Security has petitioned United States President Donald Trump, calling for international attention and decisive action over the worsening security situation in Zamfara State and other parts of northern Nigeria.
In an open letter addressed to the U.S. President, the group described the killings and mass displacement in Zamfara as “a humanitarian tragedy that demands urgent global response.”
According to the coalition, thousands of Nigerians, including men, women, and children, have been killed, abducted, or forced to flee their homes as a result of ongoing attacks by armed groups.
“We write not just as citizens mourning the thousands whose lives have been brutally cut short across parts of northern Nigeria, but as people who recognize your important role as a global leader always ready to confront moral wrongs,” the letter read in part.
The group alleged that while billions of naira are allocated for security across states, the crisis in Zamfara continues to worsen, leading to the deaths of innocent citizens and the destruction of entire communities. It claimed that the situation reflects what it called “a total breakdown of leadership and accountability in the management of security resources.”
The coalition urged President Trump and the U.S. government to impose visa restrictions on certain political figures, including Governor Dauda Lawal of Zamfara State, to “apply international accountability pressure on political actors who trade human lives for political and financial gain.”
“Leadership is a moral duty, not a personal luxury,” the group said, adding that sanctions would “disrupt the comfort derived from foreign refuge and compel responsibility at home.”
The coalition further clarified that the violence in Zamfara should not be viewed through a religious lens, stressing that both Muslims and Christians have suffered devastating losses.
“These killings have no religious connection. They are the direct consequence of governance failure, gross negligence, and mismanagement of security resources,” it stated.
The letter also commended the efforts of President Bola Tinubu in deploying special forces and strengthening national security architecture but maintained that “no federal intervention can succeed where state leaders fail to act with urgency.”
It urged the Nigerian government to consider declaring a state of emergency in Zamfara to restore peace and rebuild devastated communities.
“We are appealing for moral intervention and international support to help end the cycle of killings and displacement in Zamfara and across northern Nigeria,” the petition added.
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