Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, has revealed that under the newly enacted tax laws, Nigerian households earning ₦250,000 or less per month are classified as poor and will be exempt from paying taxes.
Oyedele, a former tax leader at PriceWaterhouseCoopers (PwC), made the announcement a few hours after President Bola Tinubu gave his assent to four new tax bills. He described his two-year tenure as chair of the tax reform committee as both “eventful and challenging,” highlighting the significant reforms undertaken during his leadership.
The new tax laws are expected to impact millions of Nigerians, aiming to provide relief for low-income earners and enhance the country’s fiscal policies.
