Tins Wey You Need Sabi About Di Naija New Tax Law

By Ebi Oboko

TO WHO E CONCERN – MAKE I JUST GIVE YOU DIS INFORMATE.
QUESTIONS & ANSWERS ON DI NEW NIGERIA TAX LAW
(Focus on Individuals and Small Businesses)

🟢 Q1:
When Di  new Nigeria Tax Act go start work?
A1:
Di  new tax law go start from 1st January 2026.

🟢 Q2:
Who dis tax law concern?
A2:
E concern everybody wey dey earn money for Nigeria – workers, content creators, remote workers, influencers, traders, etc.
Even Nigerians wey dey earn money abroad go pay tax if dem still be tax residents for Nigeria.

🟢 Q3:
Dem go tax money wey enter my bank account?
A3:
NO. Transfer, POS, deposit or withdrawal no be taxable.
Na income wey you earn dem dey tax.

🟢 Q4:
Money wey I keep for bank go dey taxed from 2026?
A4:
NO. Just keeping money for account no be tax mata.
Only income like salary, business profit or interest fit be taxed.

🟢 Q5:
I be student and I no get work, I go pay tax?
A5:
NO. If you no get taxable income, you no go pay tax.

🟢 Q6:
Tax pipo go dey monitor business bank accounts more?
A6:
YES. Dem go fit track compliance beta.
But dem no go tax your bank balance – na profit and income dem dey tax.

🟢 Q7:
Loan wey I borrow from Fairmoney or any lender go dey taxed?
A7:
NO. Loan no be income, so no tax on am.
But di interest wey lender earn, tax go enter for their own side.

🟢 Q8:
I run one-man business. Which tax I go pay?
A8:
If na business name (enterprise) – you go pay Personal Income Tax.
If na limited liability company – you go pay Company Income Tax.

🟢 Q9:
If I sell shares and make profit, dem go tax am?
A9:
NO, as long as:
• Value of shares no pass ₦150 million, and
• Gain no pass ₦10 million.
If e pass this limit, dem go tax the excess gain.

🟢 Q10:
I be pensioner. Dem go tax my pension?
A10:
NO. Approved pension and retirement benefits no dey taxed.

🟢 Q11:
Military salary dey taxed?
A11:
NO. Military officers salary don become tax-free.

🟢 Q12:
Creatives like musicians, authors, sports people – dem still get tax exemption on foreign income?
A12:
NO. From now on, dem go pay Nigerian tax on income wey dem earn both inside and outside Nigeria.

🟢 Q13:
Crypto profit dey taxed?
A13:
YES. Profit from crypto, NFTs and other digital assets go dey taxed.

🟢 Q14:
Who no go pay personal income tax?
A14:
• People wey earn minimum wage or less, and
• Anyone wey earn below ₦800,000 per year.

🟢 Q15:
Wetin be the new tax bands?
A15:
• First ₦800,000 – 0%
• Next ₦2.2m – 15%
• Next ₦9m – 18%
• Next ₦13m – 21%
• Next ₦25m – 23%
• Above ₦50m – 25%

🟢 Q16:
If I collect big thank u for coming package for work, dem go tax am?
A16:
If e no pass ₦50 million, NO TAX.
If e pass ₦50m, dem go tax the extra money with the new tax bands.

🟢 Q17:
Dividends or rent wey I earn abroad go dey taxed?
A17:
NO, as long as you bring the money enter Nigeria through approved banks.

🟢 Q18:
Disability pension for injured soldiers go dey taxed?
A18:
NO. Disability pension for armed forces no dey taxed at all.

🟢 Q19:
Agricultural company go pay tax?
A19:
NO. Agricultural companies get 5-year tax holiday from when dem start operation.
🟢 Q20:
Income from government bonds dey taxed?
A20:
NO. Federal and State Government bonds no dey taxed.
🟢 Q21:
Wetín be rent relief for new tax law?
A21:
From 2026, you fit claim 20% of your annual rent as tax relief,
But e no go pass ₦500,000.
Example:
If your rent na ₦5m, 20% na ₦1m – but dem go only allow ₦500k.
You must declare your real rent to enjoy this relief.
🟢 Q22:
If I earn ₦6m yearly, I go benefit?
A22:
YES. Under the new law, your tax go reduce and your take-home pay go increase.
🟢 Q23:
If my company turnover no reach ₦50m, I go pay tax?
A23:
NO. Small companies with turnover below ₦50m no dey pay tax.
🟢 Q24:
I dey work remotely inside Naija for foreign company. I go pay tax?
A24:
YES, if di country wey the organisation dey exempt your salary under treaty or diplomatic rules.
🟢 Q25:
Foreigner wey dey earn salary for Naija, go pay tax?
A25:
NO, if:
• Di employer be start-up, or
• Dem dey tech or creative sector, and
• The income don already get taxed for  dia home country.