The Federal Government has commenced the sensitisation and awareness forum on the impact of Small and Medium Scale Enterprises (SMEs) in the implementation of the Tax Reform Law.
The event held in Enugu State at the weekend was organised by the office of the Senior Special Assistant to the President on Community Engagement (South-East), with the theme Tax Reform Acts and Compliance, Impact of SMEs in South-East.
It drew participants from the five states in the region comprising Enugu, Imo, Anambra, Abia and Ebonyi State and had in attendance market women, small and medium scale enterprises, petty traders and entrepreneurs.
Addressing the participants, the Senior Special Assistant to President Tinubu on Community Engagement (South-East), Barrister (Mrs) Chioma Nweze, said that the federal government was determined to make taxation fairer and more beneficial to ordinary Nigerians.
The Presidential aide emphasised that the sensitization of women was deliberate, recalling that historical revolts such as the Aba Women’s riot of 1929 were caused by unfair taxation.
Barrister Nweze noted that the unveiling of the sweeping tax reform package was aimed at simplifying compliance, reducing the burden on small businesses/low-income earners, in addition to strengthening Nigeria’s revenue system.
“Our women, especially market women, must understand why the government collects taxes, what the government does with it, and how they should pay without exploitation”
“The president has removed fuel subsidy, unified the exchange rate, and increased allocations to states; these reforms will ensure that more projects are delivered to benefit citizens,” she said.
“When women are informed, they carry the message to their families and communities. We don’t want exploitative practices to return; rather, women should be empowered to benefit from government initiatives.”
Earlier in a keynote presentation, the South-East Chairman of the Tax Appeal Tribunal, Barrister Chukwumeka Eze, explained that four new tax acts signed into law on June 26, 2025, now consolidate more than 20 scattered tax laws.
He noted that businesses with an annual turnover below N50 million were exempted from Companies Income Tax and Value Added Tax, while minimum wage earners will no longer pay personal income tax.
“This is progressive taxation, the rich will now pay more within their means, while the poor will be protected; the days when wealthy individuals paid little tax are gone,” Eze stressed.
He added that the reforms also introduced a Tax Dispute Resolution Mechanism, which allows citizens to lodge complaints free of charge with resolutions provided within 7–14 days.
Contributing, a Chartered Accountant, Mr. Innocent Chinyere Ohagwa, said the reforms were necessary to strengthen Nigeria’s fiscal base and described SMEs as the “lifeblood” of the economy.
“SMEs account for more than 90% of businesses and nearly 60% of jobs in Nigeria. By removing multiple taxation and unfair levies, the government is giving them space to grow to support economic diversification.”
In an interview, Dr Zino Ugboma, representing the Nigerian Education Loan Fund (NELFUND), harped on how tax revenues were being used to expand access to education.
He explained that undergraduates in universities, polytechnics, and colleges of education can now access tuition and living-cost loans, repayable only after securing employment.
A participant who doubles as the National Secretary Market Women Organisation for Empowerment/Development, Mrs Nnnena Otuonye, commended President Tinubu for pushing a fairer tax reform system and urged South-east residents to embrace its compliance for economic growth.
The forum, which drew officials of the Federal Inland Revenue Service (FIRS), women leaders, professionals, and community stakeholders, called for stronger collaboration to ensure the success of the reforms.
𝗙𝗼𝗹𝗹𝗼𝘄 𝗢𝘂𝗿 𝗪𝗵𝗮𝘁𝘀𝗔𝗽𝗽 𝗖𝗵𝗮𝗻𝗻𝗲𝗹 𝗧𝗼 𝗚𝗲𝘁 𝗟𝗮𝘁𝗲𝘀𝘁 𝗡𝗲𝘄𝘀 𝗔𝘀 𝗜𝘁'𝘀 𝗗𝗿𝗼𝗽!
