Taiwo Oyedele, chairman of Nigeria’s Presidential Fiscal Policy and Tax Reforms Committee, announced tax reforms targeting women entrepreneurs at the 24th Annual Women in Management, Business and Public Service (WIMBIZ) Conference, held at the Eko Hotels & Suites, Lagos.
The initiative, unveiled on November 6 and 7, 2025, aims to bolster economic growth by easing the tax burden on a sector vital to Nigeria’s economy.
Women, who play major roles in Small and Medium-sized businesses (SMEs) and the informal sector, contributing over 40% to Nigeria’s GDP according to a 2024 World Bank report, have long faced multiple taxation, overregulation, and harassment.
In his address, Oyedele emphasized that the new tax framework is designed to support them by introducing exemptions from Corporate Income Tax, VAT, Withholding Tax, and PAYE for small businesses and low-income employees.
Larger firms will benefit from harmonized taxes, expanded input VAT credits, and economic incentives, all aimed at reducing production costs and improving profitability starting January 1, 2026.
Speaking at the event, Taiwo Oyedele explained that the government’s tax reforms are meant to “reward compliance” and allow businesses to grow before being taxed.
“We started the tax and fiscal reform with how people do business, how those businesses grow, and how finance is placed,” he explained. “You can’t knock on the door and say, ‘Tax me.’ Let’s have a conversation on how to create a business that can pay corporate tax. So, the reforms are people-centric.
He added, “If you run a small company where your annual turnover, that’s the income you get, is N100m or less, your corporate tax rate will be zero per cent. What is even more interesting is that the Corporate Affairs Commission has announced that it will register 250,000 small companies free of charge.”
Meanwhile, in a post on X (formerly Twitter), Taiwo Oyedele, highlighted the vital roles that women play in SMEs and their contributions to Nigeria’s GDP.
He wrote, “Women play a vital role in financing families, supporting communities, and driving economic growth. They dominate the small business space and the informal sector, including the small-scale exports, and contribute significantly to GDP and employment.
“In addition, the newly established Office of the Tax Ombud (OTO) will safeguard women and other taxpayers’ rights and curb harassment in the tax system.”
