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Nigerian Government releases 50 tax exemptions, reliefs under new Tax Reforms Laws (Full List)

Mr. Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee

*Taiwo Oyedele, Chairman of Nigeria鈥檚 Presidential Fiscal Policy and Tax Reforms Committee, lists several reliefs and exemptions for low-income earners, average taxpayers, and small businesses with effect from January 1, 2026, across the West African country

Isola Moses | 绿帽献妻

The Federal Government of Nigeria has announced and released 50 tax exemptions and reliefs for Nigerians, small-scale businesses and organisations under new Tax Reforms Laws.

Mr. Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, who disclosed this development in announcement vis his verified social media handle, said effective from January 1, 2026, the country鈥檚 new tax laws would provide several reliefs and exemptions for low-income earners, average taxpayers, and small businesses in the economy.

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Oyedele listed them as follows:

饾悘饾悶饾惈饾惉饾惃饾惂饾悮饾惀饾悎饾惂饾悳饾惃饾惁饾悶饾悡饾悮饾惐饾惃饾惈饾悘饾悁饾悩饾悇

Individuals earning the national minimum wage or less (exempt)
Annual gross income up to 鈧�1,200,000 (translating to about 鈧�800,000 taxable income) is exempt
Reduced PAYE tax for those earning annual gross income up to 鈧�20 million
Gifts (exempt)

饾悁饾惀饾惀饾惃饾惏饾悮饾悰饾惀饾悶饾悆饾悶饾悵饾惍饾悳饾惌饾悽饾惃饾惂饾惉 & 饾悜饾悶饾惀饾悽饾悶饾悷饾惉饾悷饾惃饾惈饾悽饾惂饾悵饾悽饾惎饾悽饾悵饾惍饾悮饾惀饾惉

Pension contribution to PFA
National Health Insurance Scheme
National Housing Fund contributions
Interest on loans for owner-occupied residential housing
Life insurance or annuity premiums
Rent relief – 20% of annual rent (up to 鈧�500,000)

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饾悘饾悶饾惂饾惉饾悽饾惃饾惂饾惉 & 饾悊饾惈饾悮饾惌饾惍饾悽饾惌饾悽饾悶饾惉 – 饾悇饾惐饾悶饾惁饾惄饾惌

Pension funds and assets under the Pension Reform Act (PRA) are tax-exempt.
Pension, gratuity or any retirement benefits granted in line with the PRA
Compensation for loss of employment up to 鈧�50 million

C饾悮饾惄饾悽饾惌饾悮饾惀饾悊饾悮饾悽饾惂饾惉饾悡饾悮饾惐 (饾悅饾悊饾悡) – 饾悇饾惐饾悶饾惁饾惄饾惌

Sale of an owner-occupied house
Personal effects or chattels worth up to 鈧�5 million
Sale of up to two private vehicles per year
Gains on shares below 鈧�150 million per year or gains up to 鈧�10 million
Gains on shares above exemption threshold if the proceed is reinvested
Pension funds, charities, and religious institutions (non-commercial)

饾悅饾惃饾惁饾惄饾悮饾惂饾悽饾悶饾惉饾悎饾惂饾悳饾惃饾惁饾悶饾悡饾悮饾惐 (饾悅饾悎饾悡) – 饾悇饾惐饾悶饾惁饾惄饾惌

Small companies (turnover not more than 鈧�100 million and total fixed assets not more than 鈧�250 million) pay 0% tax
Eligible (labelled) startups are exempt

The Chairman of the Committee urged Nigerians to See the Full Document for more, and share the information with everyone who needs to know.

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绿帽献妻

Nigerian Government releases 50 tax exemptions, reliefs under new Tax Reforms Laws (Full List)

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