The majority of Nigerians will soon be exempt from paying the Pay As You Earn (PAYE) tax, according to Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms.
Speaking at the Nigerian Economic Summit (NES31) in Abuja, Oyedele announced that 97 per cent to 98 per cent of the population, roughly nine out of every ten Nigerians, will no longer be required to pay the tax, with the benefits of the new tax laws kicking in by January 2026.
The primary goal of the reform is to protect low-income earners. Oyedele stated plainly: “We cannot tax poverty.” While the vast majority of citizens will be exempted, the remaining two per cent who are high-income earners will be required to pay more in taxes.
