POLITICAL Economy

New Tax Law most comprehensive reform in Nigeria’s history — Ango

by admin on | 2026-03-16 10:42:37

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By Abdullahi Muhammad

Abuja

The Acting Executive Chairman of the Federal Capital Territory Internal Revenue Service (FCT-IRS), Michael Ango, says the new tax law represents the most comprehensive tax reform in the history of the country.

Ango, who was one of the speakers at a tax reform conference organised by BusinessDay newspaper in Abuja, said the Presidential Tax Reform Committee under the leadership of Taiwo Oyedele did a thorough job and made the structure simpler and easier.

The theme of the Tax Reform Conference 2026 was “Navigating the New Tax Regime: What It Means for Your Wallet.”

He commended Bola Ahmed Tinubu for his tenacity in ensuring the successful tax reform for the country, noting that from the beginning of the process, while constituting the committee, the President selected highly experienced professionals in taxation from the private sector to be part of the committee, including its chairman.

The FCT-IRS Acting Executive Chairman, who was also part of the reform committee, further lauded President Tinubu for setting up the National Tax Policy Implementation Committee (NTPIC), adding that it was a step in the right direction.

According to him, one of the major reasons for the reform is to ensure that Nigeria has a more efficient fiscal system. He added that the new tax regime will deliver results.

“Taxation is not punitive. In fact, the most stable source of revenue is taxation. There is volatility in other sources of revenue, but not in taxation. The money from tax collection is used for public infrastructure.

“In this new tax law, low-income earners get relief, while the wealthy will pay more. That is the intention of the government,” he added.

Ango urged taxable individuals and organizations to be responsible and tax-compliant, noting that revenue generated from taxes is used to provide public infrastructure and services across the country.

He also commended the Minister of the Federal Capital Territory, Nyesom Wike, for the transformation recorded in the last two years, adding that the Minister has been focusing on infrastructure development in the city and satellite towns across the territory.

The FCT-IRS boss further enjoined residents of the FCT to file their tax returns before the deadline of March 31 to avoid penalties.