The Joint Revenue Board (JRB) has prohibited the use of roadblocks for tax collection across Nigeria, introducing a new framework through the presumptive tax regulations.
The announcement was made alongside Wale Edun, the finance minister and coordinating minister of the economy, who emphasised the move is aimed at formalizing tax collection while protecting businesses.
Olusegun Adesokan, executive secretary of the JRB, explained that the regulations provide a unified system for tax collection, preventing disruptions to business operations.
Under the new rules, nano and small businesses with an annual turnover of ₦12 million or less are exempt, while other informal enterprises will pay a 1% tax on turnover.
The framework is designed to encourage small business growth, expand the tax base, and ensure fairness.
Speaking at the launch, 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 noted that Nigeria’s GDP recorded over 4% growth in the last quarter of 2025, with a target of 7% in the near term, in line with the President’s vision of achieving a $1 trillion economy by 2030.
The minister also highlighted that the new tax system will be coordinated across federal, state, and local governments, monitored for compliance, and overseen by an Ombudsman to ensure proper implementation.
Edun added, “this is a growth-oriented system designed to create jobs, support small and medium enterprises, and attract investments from Nigerians at home and abroad.”