The Federal Government under President Bola Ahmed Tinubu has unveiled a new tax collection framework targeted at integrating small businesses and informal sector operators into Nigeria’s tax system.
Tagged the Presumptive Tax Framework, the initiative is structured to ease tax compliance for traders, artisans, and micro-enterprises nationwide.
The announcement was made in a statement shared on Wednesday via the official X account of the Federal Ministry of Finance.
According to the government, the framework introduces a simplified tax structure aimed at making it easier for small-scale businesses operating outside the formal economy to meet their tax obligations. The system provides a streamlined process intended to eliminate unnecessary bureaucratic bottlenecks.
Speaking on the initiative, Executive Secretary of the Joint Revenue Board, Olusegun Adesokan, emphasized that the framework expressly outlaws the use of roadblocks by tax officials for revenue enforcement.
“It also bans the mounting of roadblocks for the collection of taxes,” Adesokan stated, noting that the measure is designed to end the practice of stopping traders and transporters on highways to demand levies.
Meanwhile, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, explained that the policy seeks to establish a fair and predictable tax environment for small enterprises.
He stressed that the goal of presumptive taxation is not to place additional strain on small businesses but to create a simple and transparent compliance system.
Edun further noted that the government’s fiscal approach prioritizes widening the tax base instead of raising tax rates, adding that broader inclusion is key to long-term economic sustainability.