The Joint Revenue Board (JRB) has banned roadblocks for tax collection nationwide.
This is part of the rollout of the Presumptive Tax Regulations, unveiled by Finance Minister and Coordinating Minister of the Economy, Wale Edun.
Under the new rules, nano and small businesses with turnover of ₦12 million and below are exempted, while other informal businesses will pay a 1% tax on turnover. The regulations aim to protect small enterprises, encourage growth, and expand the tax base fairly.
Speaking at the launch, Minister Edun said, “These regulations ensure transparency, fairness, and economic inclusion. They formalize a pathway for small businesses to grow and eventually enter the formal economy, contributing to sustainable national growth.”
He highlighted that Nigeria’s GDP grew over 4% in the last quarter of 2025 and emphasized the goal of achieving 7% growth in the near term, supporting the President’s vision of a $1 trillion economy by 2030.
The Minister also noted that tax administration under the new framework would be coordinated across federal, state, and local governments, monitored for fairness, and overseen by the Ombudsman to ensure proper implementation.
Edun added, “This is a growth-oriented system designed to create jobs, support small and medium enterprises, and promote investment from Nigerians at home and in the diaspora.”
The Executive Secretary of the JRB, Olusegun Adesokan, said the regulations provide a coordinated framework for tax collection, ensuring businesses are not disrupted.
