At least nine out of every 10 Nigerians will no longer have to pay the Pay as You Earn (PAYE) tax Taiwo Oyedele, the chairman, presidential fiscal policy and tax reform committee has said. He also added that Nigerians will start enjoying benefits of new tax laws, beginning from January 2026.
Oyedele who spoke at the ongoing Nigerian Economic Summit (NES31) in Abuja on Tuesday, said that about 98 percent of the Nigeria’s population will no longer pay the Pay As You Earn (PAYE) tax.
He emphasied that the new tax laws are targeted at protecting the low income earners or those at the poverty line.
‘We cannot tax poverty, about 97 to 98 percent of Nigerians will no longer pay the PAYE, but the 2 percent will pay more as high income earners,’ he said.