By Atoyebi Nike
The chairman of the Presidential Fiscal Policy and Tax Reform Committee, Taiwo Oyedele, has announced that 98 percent of Nigerians will no longer pay the Pay As You Earn (PAYE) tax under new tax laws that will take effect from January 2026.
Oyedele disclosed this on Tuesday during a session at the ongoing 31st Nigerian Economic Summit (NES31) in Abuja. He explained that the tax reforms are designed to shield low-income earners and people living at the poverty line from additional financial burdens.
“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 stated.
According to him, the reforms will shift the tax burden towards higher earners while providing relief to the majority of Nigerians, marking a significant policy change in the country’s tax system.
