By Faith Anisiobi, The Sight News
The Abuja Chamber of Commerce and Industry has called for a balanced and business-friendly tax system capable of supporting economic growth and protecting Micro, Small and Medium Enterprises (MSMEs) from excessive financial pressure.
The call was made on Tuesday during a high-level roundtable organised by the Chamber through its National Policy Advocacy Centre (NPAC), where stakeholders from government, the organised private sector, taxation bodies and the business community examined the implications of Nigeria’s ongoing tax reforms.
The roundtable, themed “Tax Reality: Ripple Effects on Industry and Commerce,” focused on the implementation of the Nigeria Tax Act 2025, the Nigeria Tax Administration Act 2025, the Nigeria Revenue Service (Establishment) Act 2025, and the Joint Revenue Board (Establishment) Act 2025.
Speaking during the event, the 2nd Deputy President of ACCI and Chairman of NPAC, Aliyu Idi Hong, said while the reforms are intended to modernise tax administration and harmonise processes, implementation must reflect the economic realities confronting businesses across the country.
According to him, Nigerian businesses, especially MSMEs, are already burdened by inflation, exchange rate instability, high energy costs, poor infrastructure, insecurity, multiple taxation and limited access to affordable finance.
He warned that reforms which increase compliance obligations without improving the business environment could weaken competitiveness, discourage investment and shrink the tax base.
“No economy can tax businesses into prosperity,” he stated, stressing that taxation should support industrialisation, enterprise growth, investment attraction and job creation.
In his welcome address, the Director-General of ACCI, Agabaidu Jideani, described the roundtable as part of the Chamber’s commitment to policy advocacy, stakeholder engagement and constructive economic dialogue.
He explained that the forum was designed to deepen public understanding of the new tax framework, address misconceptions surrounding the reforms and provide businesses with practical insights into the opportunities and implications of the emerging tax regime.
Jideani also highlighted the role of the Chamber’s specialised centres, including the ACCI BEST Centre, the Nigerian Chamber of Commerce Dispute Resolution Centre (NCC DRC), the Abuja Trade Centre (ATC) and NPAC, in promoting enterprise development and economic growth.
Delivering a presentation on “MSMEs and the Vulnerable, Exemptions, Reliefs and No Burden Assurances: The Tax Reform Acts in Perspective,” tax expert and former President of the Chartered Institute of Taxation of Nigeria, Innocent Chinyere Ohagwa, described taxation as both a civic responsibility and an instrument of national trust.
He noted that the reforms contain incentives aimed at reducing the burden on small businesses and vulnerable groups, including exemptions for companies with annual gross turnover not exceeding ₦100 million and fixed assets below ₦250 million.
According to him, qualifying small companies would enjoy zero Companies Income Tax, exemption from Development Levy, Value Added Tax obligations, withholding tax requirements and certain Capital Gains Tax liabilities beginning from January 1, 2026.
Also speaking, the Executive Director of NPAC, Chidiebere Onwumere, urged businesses to focus on adapting to the new tax regime through compliance and sustained stakeholder engagement.
He said NPAC is assisting businesses by identifying unclear provisions in the reforms, engaging tax authorities for clarifications and developing practical compliance guides for key sectors while maintaining dialogue with the Federal Inland Revenue Service.
The roundtable ended with stakeholders calling for sustained collaboration between government and the organised private sector to ensure the reforms achieve their objectives without undermining business sustainability.
Participants expressed confidence that recommendations from the engagement would help create a more inclusive, investment-friendly and growth-oriented tax environment capable of supporting national development and economic resilience.
