Abuja, Nigeria – June 27, 2025 — Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr. Taiwo Oyedele, has issued a clarification regarding recent public discourse on Nigeria’s new tax exemption threshold.
In a statement released on Thursday, Oyedele addressed what he described as a misinterpretation of his earlier comments, noting that the ₦250,000 monthly threshold he referenced was in the context of household income, not individual earnings.
“For clarity, my reference to ₦250,000 was in the context of a household, not an individual,” he stated.
He further explained that under the current reform framework, the individual monthly tax exemption threshold stands at ₦108,000, which translates to ₦1.3 million annually. The reform is part of ongoing efforts by the Federal Government to ease the burden on low-income earners and promote fairness in the tax system.
“I hope this clears up any misunderstanding,” Oyedele added, reaffirming the Committee’s commitment to transparency and accountability in the implementation of tax reforms.
The clarification comes as part of broader public engagement aimed at fostering awareness and understanding of Nigeria’s evolving fiscal landscape